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January 23, 2008 |
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LEADCORP: Makes Changes to Stake-Sale Contract by Shareholders The Leadcorp, Inc. has made amendments to the contract regarding the stake sale by its largest shareholders, Reuters Investing Keys reports. As reported by the Troubled Company Reporter - Asia Pacific on January 18, 2008, Leadcorp's largest shareholders APGF3 Korea Investments Co. Ltd. and KGRF Korea Investments Co. Ltd., have signed a contract to sell off 10,329,450 shares of the company to dkmarine.co.ltd and its affiliates. Reuters relates that the details of the amendments are: * sale of a combined 37.48% stake by largest shareholders to DK D&I Co. Ltd (a 12.02% stake) and its three related parties (a combined 25.46% stake) * the shares are priced at KRW48,507,097,200. Seoul, Korea-based The LEADCORP, Inc. is engaged in the provision of oil and consumer financial service. The company operates its business under three main sectors: oil, gas station and resting place, and consumer financial service. Its oil business supplies gasoline, lamp oil, light oil and other related products predominantly in Jeolla Province, Korea. Its gas station and resting place business operates Cheon Ahn resting place in Chungcheong Province, Korea. The consumer financial service business offers loan service primarily through the Internet with its 10 domestic branches. Korea Investors Service affirmed the company's straight bonds series 13's 'BB-' rating with a stable outlook, as of June 28, 2006. |
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