Water Oasis Group Limited (SEHK:1161) signed an agreement to acquire Millistrong Holdings Limited from Ng Wing Mee, Denise, Chan Sau Kan Justina and Cheng Li Mei for HKD 45 million on March 29, 2021. The consideration shall be payable in the manner on the basis of turnover and net asset value as agreed between the parties. The transaction will be funded through internal resources. For year ended December 31, 2020, Millistrong Holdings Limited has reported revenues of HKD 108.9 million, net profit before tax of HKD 4.04 million net profit after tax of HKD 1.112 million and net assets of HKD 20.5 million. The transaction is subject to certain conditions including satisfactory due diligence, delivery of audited financial statements, completion of books and registers and other conditions as agreed between the parties. As of June 9, 2021 the parties to the Sale and Purchase Agreement agreed to extend the deadline of fulfilment of the Conditions Precedent and date of Completion June 10, 2021 to June 23, 2021. Completion shall take place on or before June 10, 2021. Water Oasis Group Limited (SEHK:1161) completed the acquisition of Millistrong Holdings Limited from Ng Wing Mee, Denise, Chan Sau Kan Justina and Cheng Li Mei on June 28, 2021.