Galaxia Communications Co., Ltd. (KOSDAQ:A094480) agreed to acquire remaining 11.25% stake in infohub.co from Mobilians Co., Ltd and other shareholders for KRW 1.4 billion on March 11, 2015. On March 12, 2015, Galaxia Communications Co., Ltd. signed an agreement to acquire remaining 11.25% stake in infohub.co from Mobilians Co., Ltd and other shareholders. Galaxia Communications will issue 0.0647268 shares for every share of infohub.co. As of April 1, 2015, Galaxia Communications will issue 0.0629453 shares for every share of infohub.co. As of April 13, 2015, Galaxia Communications will issue 0.0623515 shares for every share of infohub.co. Galaxia Communications Co., Ltd will be surviving entity and infohub.co will be dissolved.

The transaction may be terminated if infohub.co and Galaxia Communications Co., Ltd does not gain approval from the general meeting of the Board of Directors. Galaxia Communications Co., Ltd. and infohub.co may cancel the contract through written agreement until the scheduled merger date after the signing of the merger contract. In case that shareholders holding more than 20% of the total number of issued shares in the Galaxia Communications do not approve the merger at the general meeting of the shareholders which replaces the approval of board of directors, Galaxia Communications may cancel the contract through written notification. The transaction may also be terminated, if government approvals are not received. The merger can be cancelled in case that the merger date is not postponed in case that there is failure to get approvals needed from related parties dictated by related law regarding the merger.

A meeting of Board of Directors of Galaxia Communications and stockholders of infohub.co will be held on April 28, 2015 to approve the transaction. Creditors can submit their objections from April 29, 2015 to May 29, 2015. The shares issued as consideration are expected to be listed on June 22, 2015. Transaction is expected to be completed by June 1, 2015. As of April 13, 2015, Creditors can submit their objections from May 29, 2015 to June 30, 2015 and transaction is expected to be completed by July 1, 2015, with expected listing date of new shares being July 20, 2015. Nexia-Samduk acted as valuer in the transaction.

Galaxia Communications Co., Ltd. (KOSDAQ:A094480) completed the acquisition of remaining 11.25% stake in infohub.co from Mobilians Co., Ltd and other shareholders on July 1, 2015.