IM Ventures Co., Ltd. signed a memorandum of understanding (MOU) to acquire 15.9% stake in LIS Co., Ltd. (KOSDAQ:A138690) from HC Asset Management Co., Ltd. for KRW 30 billion on August 10, 2016. IM Ventures will buy 2 million shares of LIS. Execution guarantee deposit of KRW 1 billion will be made on August 10, 2016. Execution guarantee deposit will be considered as the deposit upon the contract signing. Management rights and stock acquisition/sales contract will be signed within 2 business days from the completion date of due diligence, i.e., within the 14 days from the MOU signing date. As on August 24, 2016, IM Ventures Co., Ltd. signed a contract to acquire 16.46% stake in LIS Co., Ltd. (KOSDAQ:A138690) from HC Asset Management Co., Ltd. An amount of KRW 500 million has been paid on August 24, 2016. The balance of KRW 1.5 billion will be paid till August 31, 2016. The expected completion date is September 27, 2016. The extraordinary shareholders' meeting is to be held in September 2016. IM Ventures Co., Ltd. cancelled the acquisition of 15.9% stake in LIS Co., Ltd. (KOSDAQ:A138690) from HC Asset Management Co., Ltd. on September 20, 2016.