Genolution Signs Share Purchase Agreement Involving Change of Largest Shareholder

On January 20, Genolution announced that a share purchase agreement involving a change of the largest shareholder had been signed.

Hoyl Biomed stated that it would transfer 810,372 shares of Genolution to Co-CEO Kim Kiok at 1,851 won per share, for a total of 1.5 billion won.

The payment is scheduled for February 19. The shares will be delivered simultaneously with the payment.

After the transaction, the largest shareholder of Genolution will be Co-CEO Kim Kiok. Kim is expected to hold 2,229,440 shares, representing 11.62% ownership.