An undisclosed buyer signed an agreement to acquire 51% stake in Gamma Logistics (B.V.I.) Corporation from Dafeng Port Heshun Technology Company Limited (SEHK:8310) for HKD 4.2 million on December 28, 2018. The consideration shall be satisfied by way of delivery of a banker’s draft drawn on a bank in Hong Kong or a cheque. After the completion of the disposal, Dafeng Port Heshun Technology Company Limited will not hold any of the issued share capital of Gamma Logistics (B.V.I.) Corporation. For the year ended December 31, 2017, Gamma Logistics (B.V.I.) Corporation reported net loss after tax of HKD 3.53 million and net assets of HKD 24.4 million. The transaction is subject to the buyer being satisfied with the results of the legal and financial due diligence conducted by the buyer over Gamma Logistics (B.V.I.) Corporation, the passing of necessary resolution(s) by the shareholder(s) or the Director(s) of Dafeng Port Heshun Technology Company Limited in respect of the transaction and receipt of all consents from government or regulatory authorities or third parties. If the conditions have not been fulfilled or waived on or before 4 calendar months after the date of the agreement, being the long stop date, for whatever reason, the agreement shall cease. Completion shall take place on or before the seventh business day following the satisfaction of the conditions precedent to agreement or any other day as may be agreed by the parties in writing. Dafeng Port Heshun Technology Company Limited intends to use the net proceeds from the sale as additional working capital and to fund future investments if and when suitable opportunities arise.. An undisclosed buyer completed the acquisition of 51% stake in Gamma Logistics (B.V.I.) Corporation from Dafeng Port Heshun Technology Company Limited (SEHK:8310) on January 10, 2019. Al the conditions under disposal agreement have been fulfilled.