Huang Li completed the acquisition of Shenzhen Oceania Printing Company Ltd from Beijing Enterprises Clean Energy Group Limited.

Huang Li entered into the agreement to acquire Shenzhen Oceania Printing Company Ltd from Beijing Enterprises Clean Energy Group Limited (SEHK:1250) for approximately HKD 260 million on January 10, 2018. Under the terms of agreement, Huang Li will settle the outstanding shareholder’s loan owing by Shenzhen Oceania Printing Company Ltd to Beijing Enterprises Clean Energy Group Limited in the amount of HKD 0.19 million, will deposit an amount of approximately HKD 80 million, an amount of HKD 49.4 million shall be payable by on or before March 31, 2018, the balance of the consideration in the amount HKD 129.4 million shall be payable in six equal installments. Upon completion, Shenzhen Oceania Printing Company Ltd will cease to be a subsidiary of Beijing Enterprises Clean Energy Group Limited. As on November 30, 2017, Shenzhen Oceania Printing Company Ltd reported net assets of HKD 239.6 million and total assets of HKD 312.2 million. The transaction is subject Huang Li having made the first payment; Huang Li having placed the deposit pursuant to the terms of the agreement; Huang Li having reimbursed all the costs and expenses incurred up to completion as a result of the transfer; Huang Li having settled the outstanding shareholder’s loan owing by Shenzhen Oceania Printing Company Ltd to Beijing Enterprises Clean Energy Group Limited and other customary conditions. The transaction is expected to be completed on or before the fifth business days or such later date as agreed between the parties. The proceeds from the transaction will be as general working capital of Beijing Enterprises Clean Energy Group Limited. Huang Li completed the acquisition of Shenzhen Oceania Printing Company Ltd from Beijing Enterprises Clean Energy Group Limited (SEHK:1250) on January 17, 2018.