Cacola Furniture International Limited (SGX:D2U) entered into a sale and purchase of shares agreement to acquire 60% stake in A & G International Holdings Limited from Nam Cheung Hoi, Arthur and Song Sumei for SGD 4.9 million on October 27, 2016. 50% of the consideration is being paid through the allotment and issuance of 338.18 million new ordinary shares and 50% is being paid through cash. The cash portion shall be funded through the rights issue being carried out by Cacola Furniture and/or such other fund raising exercise to be carried out by Cacola Furniture. The net profit attributable to A & G International for the financial year ended December 31, 2015 was CNY 2.14 million (SGD 0.47 million). Completion is conditional upon due diligence, approvals by third parties or governmental or regulatory bodies, SGX-ST, Board of Directors of Cacola Furniture and A & G International Holdings, shareholders of Cacola Furniture, listing approval of shares by SGX-ST, appointment of such Directors nominated by Cacola Furniture to form part of the Board of Directors of A & G International, completion of the rights issue of Cacola Furniture, obtaining sufficient funds by Cacola Furniture for the cash portion and the net profit after tax of A & G International for the financial year ending December 31, 2016 being not less than SGD 1 million. The currency conversion was done through www.oanda.com as at December 31, 2015. Cacola Furniture International Limited (SGX:D2U) cancelled the acquisition of 60% stake in A & G International Holdings Limited from Nam Cheung Hoi, Arthur and Song Sumei on October 27, 2017.