Fragrant Prosperity Holdings Limited (LSE:FPP) entered into an agreement in principle to acquire Ciitech Ltd for £17.5 million on May 24, 2021. The consideration paid is to be satisfied by the issue of Ordinary Shares in the capital of FPP. A transaction structure has been agreed in outline with the Target and completion of the Intended Acquisition is conditional, inter alia, upon: As of July 6, 2021, CiiTECH successfully raised £2.1 million through the issue of Convertible Loan Notes to FastForward Innovations Ltd, CiiTECH will use this fund in marketing strategy, invest in new talent, build essential operational infrastructure to support future growth and finance the planned reverse takeover.The completion of satisfactory financial, legal and commercial due diligence on the Target as FPP may determine necessary, agreement on the composition of the new board of FPP,the re-naming of FPP as CiiTECH Group Limited and publication of a prospectus and admission of the enlarged share capital of FPP to the Standard Segment of the Official List and to trading on the Main Market. Approval by FPP shareholders of the name change and issue of consideration shares.

Fragrant Prosperity Holdings Limited (LSE:FPP) cancelled the acquisition of Ciitech Ltd on March 8, 2022.