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1. All of the plaintiffs' claims against the defendant are dismissed.
2. The costs of lawsuit are assessed against the plaintiffs.
Reasons
1. Basic facts
A. D Co., Ltd. (hereinafter referred to as “D”) holds 5,000 shares each of the Plaintiffs’ shares issued D (5,000 shares per share) as a new venture business with a receipt typesetting technology, and the Defendant is a company listed on KOSDAQ, the main purpose of which is software, system development and supply business, etc.
B. On January 6, 2017, the Plaintiffs and D agreed to conduct an advertising business by combining D’s technologies owned by the Defendant with each other, and concluded a “POS-based business contract” (hereinafter “instant contract”) with which the Plaintiffs would transfer KRW 3,000 stocks owned by the Plaintiffs to the Defendant in KRW 500 million. Of the instant contract, the details relating to the payment of share transfer price are as follows.
Article 4 (Acquisition Limit of Stocks)
1. A (referring to the Defendant), C (referring to the Plaintiff A), and C (referring to the Plaintiff B) will enter into a contract for stock acquisition in order to publicly announce the business cooperation as follows:
Subject matter: common shares of D Co., Ltd. owned by Byung,
(b) Number of shares in trading: 3,000 shares in sick and regularly held (30% of the total number of shares issued 10,000 shares); and
(c) Amount of transaction: Article 5 (Methods of Payment for Price of Sale) of the KRW 500 million (Article 500,000,000).
1. A agrees, as the case may be, that the above amount may be paid by means of bonds with warrant (BW) issued by A on the date of this contract, and Byung and Jung may be paid by means of cash substitute BW.
2. If the purchase and sale price of the above shares is paid in lieu of cash BW, Byung and Jung may be transferred to others or offered as security prior to the exercise of BW.
Provided, That in order to transfer or secure BW to another person, Byung and Jung shall present in advance the agreement with the Bank of Bankruptcy to Gap.
C. The Plaintiffs, on March 17, 2017, are the Defendant under Article 5 of the instant contract.