Sheen Tai Holdings Group Company Limited (SEHK:1335) agreed to acquire She Yang Cheng He Information Technology Company Limited for approximately HKD 240 million on March 17, 2016. Under the terms of transaction, Sheen Tai will pay HKD 141.7 million by issuing convertible bond upon closing representing 60% of the consideration and remaining HKD 94.5 will be paid by issuing convertible bond upon achieving of certain revenue guarantee subsequently in 2016, 2017 and 2018. As per clarification on March 18, 2016, 2018 payment will be made on or before March 19, 2019. The transaction may be terminated upon non fulfillment of certain condition. As of December 31, 2015, She Yang records CNY 6.47 million (HKD 7.73 million) as total assets and net assets. The transaction is subject to obtain approval from board and shareholder of Sheen Tai, listing of conversion shares on stock exchange, reorganization of She Yang Cheng He Information Technology Company Limited, approval from board of She Yang completion of due diligence, approval of all regulatory and third party, and completion of Corporate Reorganization of She Yang Cheng. As of March 17, 2016, Board of Directors of She Yang is of the view that the terms and conditions of the agreement are fair and reasonable. As on June 23, 2016, supplemental agreement entered into between Sheen Tai Holdings Group and She Yang Cheng He Information in relation to the revision of certain terms of the Convertible Bond. The currency has been converted from www.oanda.com as of December 31, 2015. Sheen Tai Holdings Group Company Limited (SEHK:1335) completed the acquisition of She Yang Cheng He Information Technology Company Limited on June 30, 2016.