Top Standard Corporation (SEHK:8510) entered into a sale and purchase agreement to acquire remaining 10% stake in Code Entertainment Limited from Wong Kwong Sum for HKD 0.02 million on August 11, 2021. Pursuant to the terms of the agreement, Top Standard Corporation will pay the consideration in cash at completion. The consideration will be funded by Top Standard Corporation’s internal resources. Upon completion of the transaction, Code Entertainment will become an indirect wholly-owned subsidiary of the Top Standard. For the year ended March 31, 2021, Code Entertainment Limited had net loss before taxation of HKD (1.67) million and net loss after taxation of HKD (1.67) million. Completion of the transaction is conditional upon various conditions, none of which can be waived and as of August 11, 2021, all of the conditions precedent have been fulfilled.