OEI Kang, Eric and OEI Valonia Lau agreed to acquire additional 28.79% minority stake in HKC (Holdings) Limited (SEHK:190) for HKD 1.2 billion on January 12, 2021. Under the term, OEI Kang, Eric and OEI Valonia Lau will acquire 147.15 million shares of HKC at HKD 8 per share. Post completion, OEI Kang, Eric and OEI Valonia Lau will hold 32.17% in HKC and Creator Holdings Limited and Genesis Capital Group Limited will hold 67.83% in HKC. HKC will apply to the Stock Exchange for the withdrawal of listing of the shares on the Stock Exchange. The consideration will be funded by the internal cash resources of OEI Kang, Eric and OEI Valonia Lau. The transaction is subject to approval by the shareholder of HKC in the shareholder general meeting, approval of court meeting, all authorizations (if any) having been obtained or made from, with or by (as the case may be) the relevant authorities in Bermuda, Hong Kong and any other relevant jurisdictions, all necessary consents (including consents from the relevant lenders) in connection with the transaction and the withdrawal of listing of the Shares on the Stock Exchange, all necessary legal or regulatory obligations. As of April 23, 2021, shareholders of HKC (Holdings) approved the transaction. The Company has asked its Bermuda legal advisers to seek directions from the Court with respect to the Quorum Requirement. By an order dated May 3, 2021. Based on the poll results announcement, a majority in number of the Scheme Shareholders representing not less than three-fourths in value of the Scheme Shares held by the Scheme Shareholders present and voting either in person or by proxy at the Court Meeting; the number of votes cast against the resolution to approve the Scheme was not more than 10% of the votes attaching to all the Scheme Shares held by the Disinterested Scheme Shareholders. The transaction is expected to close on September 30, 2021. Somerley Capital Limited acted as a financial advisor to OEI Kang, Eric and OEI Valonia Lau. Anglo Chinese Corporate Finance Limited acted as independent financial advisor for Independent Board Committee.