Neo-Neon Holdings Limited (SEHK:1868) signed an agreement to acquire Buttonwood Finance Limited from Li Pak Wang Daniel for approximately HKD 190 million on August 29, 2016. Under the transaction, Neo-Neon Holdings will issue 177.23 million of its shares as consideration. Upon completion, Buttonwood Finance Limited will become a wholly owned subsidiary of Neo-Neon Holdings Limited. Buttonwood Finance Limited reported net assets of HKD 31.19 million as at December 31, 2015. The transaction is subject to Neo-Neon Holdings Limited being satisfied with the results of the due diligence review of Buttonwood Finance Limited, all necessary consents and Board and shareholders’ approvals required to be obtained on the part of each of Neo-Neon Holdings Limited and Buttonwood Finance Limited having been obtained, Li Pak Wang Daniel and Mak Chak Hung, directors of Buttonwood Finance Limited and Buttonwood Finance Limited having properly executed and delivered an employment agreement, Li Pak Wang Daniel having fully repaid the loan in the amount of HK 21 million and made all the relevant interest payments to Buttonwood Finance Limited and Neo-Neon Holdings Limited having obtained the approval from the listing Committee of the stock exchange for the listing of and permission to deal in the consideration shares. Completion of the transaction shall take place on the 5th business day after the date of fulfillment of all the conditions set out in the agreement. If the conditions precedent have not been fulfilled on or before December 31, 2016, the agreement shall cease and terminate. Neo-Neon Holdings Limited (SEHK:1868) completed the acquisition of Buttonwood Finance Limited from Li Pak Wang Daniel January 20, 2017.