Lifestyle Global Enterprise Inc. (GTSM:8066) agreed to acquire LF SOURCING HOLDING PTE. LTD. from LIFESTYLE HOLDINGS LTD. for $8.1 million on September 11, 2015. Under the terms of the agreement, Lifestyle Global Enterprise Inc. will acquire 1 million shares of LF SOURCING HOLDING PTE.

LTD. at $8.125 per share. As per the terms, Lifestyle Global Enterprise Inc. shall pay 70% of the total acquisition price, $5.69 million within 3 days from the date of signing of this contract and Lifestyle Global Enterprise Inc. pay the balance of $2.44 million, within 2 days after completion of the share transfer registration. The Board of Directors and Board of Supervisors of Lifestyle Global Enterprise Inc. approved the acquisition on September 11, 2015.