KODI CO., LTD (KOSDAQ:A080530) signed a memorandum of understanding to acquire New Belle Co., Ltd. for KRW 2.7 billion on April 19, 2018. KODI CO., LTD will acquire 0.06 million shares of New Belle Co., Ltd. Under the terms of the transaction, KODI CO., LTD will pay cash and 0.38 million shares as consideration. Out of total consideration, KRW 200 million was paid on April 19, 2018, KRW 1.15 billion will be paid on July 31, 2018, and remaining on the date both parties agrees on. For the year ended December 31, 2017, New Belle Co., Ltd. reported total assets of KRW 10.1 billion, total capital of KRW 499 million, sales of KRW 3.2 billion, and net loss of KRW 45 million. The transaction was resolved by the Board of KODI CO., LTD on July 5, 2018. KODI CO., LTD (KOSDAQ:A080530) cancelled the acquisition of New Belle Co., Ltd. on April 19, 2019.