Liu Zhancheng made an offer to acquire the remaining 27.95% stake in LKS Holding Group Limited (SEHK:1867) for HKD 68.9 million on April 27, 2021. Liu Zhancheng (“the Offeror”) will acquire 313 million shares at HKD 0.22 per share. In a related transaction, Liu Zhancheng entered into the Sale and Purchase Agreement to acquire 72% stake in LKS Holding Group Limited from Heavenly White Limited and Summer unicorn Limited for approximately HKD 180 million on April 23, 2021. The transaction will be financed from internal resources of the offeror. LKS Holding Group will continue to operate its existing business following the close of the Offer. The Offeror intends to maintain the listing of the Shares on the Stock Exchange after the close of the Offer. The Offeror intended that the current Independent Non-Executive Directors would continue to remain in their offices after the close of the Offer. Liu Zhancheng has been appointed as an Executive Director and the Chairman of the Board, the Chairman of the nomination committee of the Board and a member of the remuneration committee of the Board; Qin Mingyue as an Executive Director and as a Director of various subsidiaries of LKS Holding Group; and Liu Zhancheng as the Company Secretary various subsidiaries of LKS Holding Group. The Independent Board Committee recommends the independent shareholders to accept the offer. The Independent Board Committee comprises of all the Independent Non-Executive Directors, Ng Man Wai, Wu Wai Ki and Tsang Ngo Yin, who have no direct or indirect interest in the Offer, has been established. The Offer will commence on May 18, 2021 and expire on June 8, 2021. China Everbright Capital acted as financial advisor to Liu Zhancheng. Louis Hau of Asian Capital Limited acted as fairness opinion provider and financial advisor to the Independent Board Committee. Tricor Investor Services Limited acted as registrar to LKS Holding Group Limited.