Huang Yi-Feng signed a conditional sale and purchase agreement to acquire 27.9% stake in Yuji Development Corporation from Superactive Group Company Limited (SEHK:176) for approximately HKD 210 million on April 27, 2018. The deal value is payable in cash. The deal value includes payment for shareholders' loan owed by Yuji Development Corporation to Superactive Group Company Limited of HKD 69 million. The consideration of HKD 214 million is payable as a deposit in the amount of HKD 21.4 million to be paid by Huang Yi-Feng to Superactive Group Company Limited within one business day after the date of signing of the sale and purchase agreement, which unless otherwise refunded in accordance with the terms and conditions of the sale and purchase agreement, shall be applied towards part payment of the consideration on completion and the balance of the consideration in the amount of HKD 192.6 million to be paid by Huang Yi-Feng to Superactive Group Company Limited upon completion. If any of the conditions is not fulfilled or waived prior to the long stop date, the party for the benefit of whom the conditions that are not fulfilled or waived may terminate the sale and purchase agreement by written notice to the other party, Superactive Group Company Limited shall, within three business days from the date of termination of the sale and purchase agreement, transfer the deposit of HKD 21.4 million (without interest) to Huang Yi-Feng. The deal is subject to regulatory approval, due diligence, approval by the shareholders of Superactive Group Company Limited and other conditions. The long stop date of the deal is August 31, 2018. Completion of the disposal shall take place within five business days after satisfaction (or waiver, as the case may be) of all the conditions or any other date as may be agreed by Superactive Group Company Limited, Huang Yi-Feng and Yuji Development Corporation to the sale and purchase agreement in writing. The Board of Superactive Group Company Limited recommends its shareholders to vote in favor of deal. The shareholders of Superactive Group Company Limited approved the transaction at the special general meeting held on July 17, 2018. It is intended that the net proceeds from the deal shall be used for Superactive Group Company Limited 's general working capital and funding for suitable investment opportunities in the future. Huang Yi-Feng completed the acquisition of 27.9% stake in Yuji Development Corporation from Superactive Group Company Limited (SEHK:176) on July 20, 2018.