Choi Chiu Fai Stanley entered into a sale and purchase agreement to acquire an additional 6.84% minority stake in ICO Group Limited (SEHK:1460) from Leong Yeng Kit, the Chairman and an executive Director of ICO Group Limited for HKD 33 million on August 9, 2021. Under the transaction, Choi Chiu Fai Stanley will acquire 60 million shares of ICO Group Limited at the price of HKD 0.55 per share. Immediately before the Share Transfer, Leong Yeng Kit held 99,093,796 Shares, representing approximately 11.29% of ICO Group Limited and Choi Chiu Fai Stanley held 83,072,000 Shares, representing approximately 9.47% of the total issued shares of ICO Group Limited. Immediately after the Share Transfer, Leong Yeng Kit will held 39,093,796 Shares, representing approximately 4.46% of the total issued shares of ICO Group Limited and Choi Chiu Fai Stanley will held 143,072,000 Shares, representing approximately 16.30% of the total issued shares of ICO Group Limited. Upon the completion of the Share Transfer between Choi Chiu Fai Stanley and Leong Yeng Kit, Choi Chiu Fai Stanley will ceased to be a substantial shareholder of ICO Group Limited and Choi Chiu Fai Stanley became a substantial shareholder of ICO Group Limited.