The board of directors of BExcellent Group Holdings Limited announced that, on 22 January 2019, Beacon Holdings Limited has completed the transaction contemplated under a sale and purchase agreement with Mr. Cheung Chi Keung, who is a co-founder and the beneficial owner of Vioo Company Limited. Pursuant to the Agreement, Mr. Cheung has agreed to sell, and Beacon Holdings has agreed to purchase, 60% of the entire issued share capital of Vioo at a cash consideration of HKD 1.2 million (Acquisition). The Board announced that Mr. Cheung Chi Keung, who is the beneficial owner of 40% equity interest in Vioo upon completion of the Acquisition, has been appointed as the Chief Information Officer of the Group with effect from 22 January 2019. Mr. Cheung, has over 17 years of solid experience in programming and information technology. He has been the director of Vioo prior to joining the Group, and was a project manager of Reinfo Technology Company, which engages in application and system software design.