Boill Healthcare Holdings Limited (SEHK:1246) entered into an agreement to acquire 99% stake in Zhenjiang Baoyang Real Estate Company Limited from Qiu Dongfang and Huang Jian for approximately HKD 160 million on July 24, 2020. Under the transaction, consideration will be satisfied by the way of allotment and issue of the consideration shares of 450.6 million at the issue price of HKD 0.35 per consideration share. Upon the completion, Zhenjiang Baoyang Real Estate Company Limited will become subsidiary of Boill Healthcare. The transaction is subject to customary closing conditions, including investigations and due diligence reviews of the business, passing of an ordinary resolution at the EGM with at least 75% of the votes of the Independent Shareholders that are cast either in person or by proxy approving the Whitewash Waiver, and more than 50% of the votes of the Independent Shareholders that are cast either in person or by proxy approving the Agreement, the passing of an ordinary resolution at the EGM by way of poll approving the Agreement and the transactions contemplated, Pre-Acquisition Reorganisation having been completed, listing of, and permission to deal in, all the Consideration Shares, Executive having granted the Whitewash Waiver, Share Consolidation and the Change in Board Lot Size having become effective.