Spackman to acquire company that leased equipment for ‘The Legend of the Blue Sea’

SINGAPORE (March 15): Spackman Entertainment Group has entered into a sale and purchase agreement to acquire a 100% interest in Korean equipment leasing company Frame Pictures from its owner, for a cash consideration sum of KRW 900 million ($1.1 million).

Additionally, the transaction will include the group’s payment of 497,250 shares from its partially-owned associated company, Spackman Media Group (SMG), to the unnamed vendor, which is only referred to by Spackman as an “independent third party”.

The consideration shares amount to about 1.63% of SMG’s total share capital. Upon completion of the acquisition, Spackman’s interest in SMG will therefore be diluted from 24.53% to 22.9%.

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