ISEcommerce, Termination of Share Transfer Agreement for Change of Major Shareholder

[Asia Economy Reporter Kwon Jae-hee] IS E-commerce announced on the 25th that the stock transfer agreement involving a change of the largest shareholder has been terminated.

IS E-commerce, the largest shareholder IS E-network, and eight special related parties of the largest shareholder had entered into a contract to transfer 14.6 million shares (56.53% of the total issued shares) to Yang Young-hwan and five others. However, the contract was canceled as the transferee did not pay the remaining balance by the payment deadline of May 24, 2022.