Chief Executive Officer and Staff of Beijing Smartdot, entered into an agreement to acquire 8.95% stake in Beijing Smartdot Technologies Co. Ltd. from ENM Holdings Limited (SEHK: 128) for HKD 21.9 million on January 16, 2012. Jiangxiaodan already holds 18.38% stake and will acquire additional 3.56% stake in Beijing Smartdot Technologies for HKD 7.13 million. The staff of Beijing Smartdot Technologies already holds 0.58% stake and will acquire additional 5.39% stake in Beijing Smartdot Technologies for HKD 13.18 million. The staff will pay the consideration in cash within 5 working days after signing of the agreement to an escrow account set up the Bank. Pursuant to the terms of the relevant escrow agreement, the Bank shall release the said consideration to ENM Holdings upon approval from relevant government authorities of the transfer of sale interest having been obtained. Jiangxiaodan will pay HKD 1.46 million within 5 working days after signing of the agreement and the balance will be paid on or before June 30, 2012. The consideration was determined after negotiations between ENM Holdings and Jiangxiaodan with reference to the business prospects of Smartdot and the valuation of the entire equity interest of Smartdot of approximately HKD 234.8 million as of December 31, 2010 appraised by Beijing Northern Yashi Assets Appraisal Co., Ltd. For the year ended December 31, 2010, Beijing Smartdot reported net assets of HKD 89.96 million, turnover of HKD 207.92 million, profit before taxation of HKD 17.79 million, and profit after taxation of HKD 16.17 million. In 2011, Beijing Smartdot recorded CNY 223 million (HKD 272.19 million) of revenue and CNY 26 million (HKD 31.74 million) of net income. The transaction is subject to approval from the relevant government authorities. The transaction is expected to complete upon approval from relevant authorities and registration and changes with the Industrial and Commerce Administration Authorities in relation to the transaction have been obtained and completed. The net proceeds from the disposal, being the consideration net of professional fees, tax and relevant expenses are estimated to be approximately HKD 16.43 million. The estimated gain from the disposal is approximately HKD 13.28 million. The proceeds from the transaction will be used for general working capital. Beijing Northern Yashi Assets Appraisal Co. Ltd. acted as appraiser. The conversion is done from oanda.com as of December 31, 2011. Chief Executive Officer and Staff of Beijing Smartdot, completed the acquisition of 8.95% stake in Beijing Smartdot Technologies Co. Ltd. from ENM Holdings Limited (SEHK: 128) on January 29, 2012. The registration of transfer of equity interests was completed with the tax clearance for sale proceeds in progress.