Anchorstone Holdings Limited (SEHK:1592) entered into a non-legally binding Letter of Intent to acquire Pacific Mining Industry Limited for HKD 100 million on September 20, 2022. As on November 18, 2022, The definitive agreement has signed. As per terms of deal, Anchorstone Holdings shall satisfied in its absolute discretion with the results of the due diligence review of Pacific Mining Industry. All Independent Shareholders shall have approved the Sale and Purchase Agreement and all transactions. The board and shareholders of Pacific Marble & Granite Holdings Limited shall have approved the terms of the Sale and Purchase Agreement and the transactions. The board of Anchorstone Holdings shall have approved the terms of the Sale and Purchase Agreement and the transactions. Pacific Marble & Granite Holdings Limited shall provide Lock-up Undertaking to Anchorstone Holdings. China Tonghai Capital Limited acted as financial advisor to Anchorstone Holdings Limited.

Anchorstone Holdings Limited (SEHK:1592) cancelled the acquisition of Pacific Mining Industry Limited on June 30, 2023.