An unknown buyer entered into a memorandum of agreement to acquire 75% stake in B & D Strategic Holdings Limited (SEHK:1780) from Tang Wing Kwok and Lo Wing Hang on July 19, 2021. As per the terms of the agreement, the buyer shall pay a deposit of HKD 20 million within 3 working days from the date of the memorandum of agreement. The Deposit shall be non-refundable except when the buyer informs Tang Wing Kwok and Lo Wing Hang that the results of the due diligence is satisfactory, but Tang Wing Kwok and Lo Wing Hang opts not to proceed with the transaction, under which, Tang Wing Kwok and Lo Wing Hang shall return the deposit and pay an extra sum of HKD 20 million to the buyer as compensation. The transaction is subject to formal agreement and consummation of due diligence by the buyer. An unknown buyer cancelled the acquisition of 75% stake in B & D Strategic Holdings Limited (SEHK:1780) from Tang Wing Kwok and Lo Wing Hang on September 18, 2021. Transaction was cancelled as due diligence was not completed and no agreement was signed.