Kam Yuen made an offer to acquire an additional 62.3% stake in Golden Meditech Holdings Limited (SEHK:801) from Atlantis Investment Management (Hong Kong) Ltd., Kong Kam Yu and other shareholders for HKD 2.3 billion on January 13, 2017. Kam Yuen along with concert parties own 1.1 billion shares. Under the terms of the offer, Kam Yuen will acquire 1.8 billion shares for HKD 1.25 in cash, convertible notes of HKD 155 million for HKD 176 million and remaining options for HKD 0.001 each. The funds required by Kam Yuen to satisfy the consideration payable under the offers will be financed partly from the note subscribed by China Minsheng Banking Corp., Ltd. for HKD 1.7 billion. Kam Yuen intends to maintain the listing status of the shares after the close of the offers. The share offer is conditional upon valid acceptances of holding more than 50% of the voting rights. The Board of Directors and the independent Board committee of Golden Meditech Holdings recommended the independent shareholders, convertible note holders and independent option holders to accept the offer. The independent Board committee comprising of all the non-executive Directors; Zheng Ting, Gao Yue and all the independent non-executive Directors including Cao Gang, Feng Wen, Gu Qiao and Daniel Foa has been established for the purpose of making a recommendation to the independent shareholders, independent option holders and convertible note holders as to whether the offers are fair and reasonable and as to acceptance. The offers are open for acceptance on and from March 10, 2017 and will close on March 31, 2017. Kam Yuen does not intend to avail any powers of compulsory acquisition. As of March 15, 2017, Kam Yuen received acceptance for 460.8 million shares and 7.1 million options and the offer was declared unconditional. The offer is expected to close on April 10, 2017. Amasse Capital Limited acted as financial advisor to Kam Yuen. Akron Corporate Finance Limited acted as financial advisor to independent Board committee of Golden Meditech Holdings. China Minsheng Banking Corp., Ltd. acted as agent and made the offers for and on behalf of Kam Yuen. Computershare Hong Kong Investor Services Limited acted as share registrar for Golden Meditech Holdings. JunZeJun Law Offices acted as legal advisor for Golden Meditech Holdings. Roma Appraisals Limited valued the deal. Sidley Austin LLP acted as legal advisor to Golden Meditech. Barbara Mok, Connie Cheung and Wendy Wong of MinterEllison acted as legal advisors to Golden Meditech.