Incredible Holdings Ltd. (Catalist:RDR) entered into share and purchase agreement to acquire 42% stake in CKLY Trading Limited from Christian Kwok-Leun Yau Heilesen for HKD 84 million on October 18, 2021. The consideration will be payable in promissory note. For the year ended December 31, 2020, CKLY Trading Limited reported net profit of HKD 3.4 million.

As per the filing on February 15, 2022, 86% of shareholders of Incredible approved the transaction. As per The transaction is conditional upon, Christian Kwok-Leun Yau Heilesen obtaining such approvals from the board of directors and/or shareholders of CKLY Trading Limited, Incredible Holdings Ltd obtaining such approvals from its board of directors and/or shareholders, legal, financial and tax due diligence, all necessary consents, approvals and waivers, and all necessary third party, governmental and regulatory consents, approvals. As per the filing on February 15, 2022, To justify the transaction, the Company constituted a special committee comprising Eunice Veon Koh Pei Lee to form a view on the Proposed Acquisition of Golden Ultra.

W Capital Markets Pte Ltd acted as financial advisor to Incredible Holdings Ltd. FT Consulting Limited acted as Valuer to Incredible Holdings Ltd.