Glaring Sand Holdings Limited entered into an agreement to acquire 3.3% stake in CESIZ (Cambodia) Co., Ltd. from Aceso Life Science Group Limited (SEHK:474) for approximately HKD 160 million on May 11, 2022. The Vendor and the Purchaser shall use their reasonable endeavours to procure the fulfilment of the Conditions. In the event that any of the Conditions is not fulfilled or waived by May 16, 2022, then the parties shall not be bound to proceed with the sale and purchase of the Sale Shares. The Completion shall take place on the third Business Day upon the fulfilment (or waiver as the case may be) of all the Conditions under the Sale and Purchase Agreement and in any event no later than May 16, 2022 or on such other date as may be agreed between the Vendor and the Purchaser in writing. With reference to the net assets value of the Target Company of approximately HKD 1,116.2 million as at 31 March 2022, the estimated net loss from the Disposal is approximately HKD 10.4 million and will be debited against reserve of the Group. The actual loss on the Disposal may be different from the above and is subject to the review and final audit by the Company's auditor.