LIU Zhancheng entered into the Sale and Purchase Agreement to acquire 72% stake in LKS Holding Group Limited (SEHK:1867) from Heavenly White Limited and Summer unicorn Limited for approximately HKD 180 million on April 23, 2021. Shandong Fujincheng Investment acquired 807 million shares at HKD 0.22 per share. In a related transaction, LIU Zhancheng will make an Offer for all the outstanding issued shares at an offer price of HKD 0.22 per share. Pursuant to the agreement, LAM Shui Wah and WONG Wan Sze have given, notice to resign as executive Directors (in respect of Wong, also including her resignation as the chairman of the Board, the chairman of the nomination committee of the Board and a member of the remuneration committee of the Board), with effect from the earliest time permitted under the Takeovers Code or by the SFC. LIU Zhancheng completed the acquisition of 72% stake in LKS Holding Group Limited (SEHK:1867) from Heavenly White Limited and Summer unicorn Limited on April 27, 2021. The total consideration for the Sale Shares including HKD 85,140,000 payable to Heavenly White and HKD 92,400,000 payable to Summer Unicorn has been fully settled by the Offeror in cash upon Completion.