Reach Goal Development Limited entered into a sale and purchase agreement to acquire a 8.75% stake in Ling Yui Holdings Limited (SEHK:784) from Lee Kim Ming for HKD 10 million on July 14, 2021. Under the transaction, Reach Goal Development Limited will acquire 70 million shares of Ling Yui Holdings Limited. Post transaction, Lee Kim Ming will have 46,910,000 shares representing 57.86% stake in Ling Yui Holdings Limited. The board of directors of Ling Yui Holdings Limited does not expect the transaction to have any significant impact on the business operations and the composition of the management of the Group. Reach Goal Development Limited completed the acquisition of a 8.75% stake in Ling Yui Holdings Limited (SEHK:784) from Lee Kim Ming on July 14, 2021.