Chan Chung Shu made an offer to acquire remaining 48.96% shares in Infinity Financial Group (Holdings) Limited (SEHK:1152) for approximately HKD 180 million on November 2, 2017. As per the terms of transaction, Chan Chung will pay HKD 0.37 per share in cash. Chan Chung Shu intends to finance the total consideration through loans obtained from Grand Harbour Finance Limited, pursuant to the loan agreements. The offer will be unconditional in all respects and is not conditional upon acceptances being received in respect of a minimum number of offer shares or any other conditions. An independent Board committee comprising all the independent non-executive Directors, namely Ho Man, Yeh Tung Ming and Zhang Hua has been established to advise the Independent Shareholders as to whether the Offer is fair and reasonable. Chan Chung Shu intends to retain the listing status of Infinity Financial Group (Holdings) Limited. The independent Board of Infinity Financial Group (Holdings) Limited recommended the shareholders to accept the offer. The offer will open from December 15, 2018 and will close on January 5, 2018. Chan Chung Shu does not intend to avail itself of any powers of compulsory acquisition of any shares outstanding after the close of the offer.

Pacific Foundation Securities Limited along with Great Wall Pan Asia Corporate Finance Limited acted as financial advisor for Chan Chung Shu. Guoyuan Capital (Hong Kong) Limited, Zhaobangji International Capital Limited acted as financial advisor for Infinity Financial Group (Holdings) Limited and China AF Corporate Finance Limited being the independent financial adviser appointed by the Infinity Financial Group for the purpose of advising the independent Board committee and the independent shareholders of Infinity Financial Group. Union Registrars Limited acted as registrar for Infinity Financial Group (Holdings) Limited.

Chan Chung Shu completed the acquisition of additional 0.01% stake in Infinity Financial Group (Holdings) Limited (SEHK:1152) for HKD 0.04 million on January 5, 2018. Chan Chung Shu received valid acceptances in respect of 0.12 million representing 0.012% of Infinity Financial Group (Holdings) Limited. Chan Chung Shu's stake in Infinity Financial Group (Holdings) Limited increased to 51.04% to 51.05%. The consideration due in respect of shares tendered will be remitted latest by January 16, 2018.