Li Jun, Li Xiang and Xiao Xin made an offer to acquire 30.1% stake in Century Sage Scientific Holdings Limited (SEHK:1450) for HKD 72.2 million on July 30, 2021. Li Jun will acquire shares at an offer per share of HKD 0.23. The transaction would be funded by internal resources of Li Jun. In a related transaction, Li Jun, Lu Jiayao, Guo Jing and David Chong signed an agreement to acquire 65.3% stake in Century Sage Scientific. Independent committee has been established to advice the Board on the transaction. The Offeror does not intend to privatize the Company by availing itself of any powers of compulsory acquisition The proceed from the transaction will be used for repayment of liabilities of the Group (i.e. borrowings from banks and independent third parties (who are not the Shareholders), and trade and other payables) and general working capital, expansion of video system technologies into other industries and exploring and grasping the opportunities of new media market and e-commerce live broadcasting platform by using video streaming media live broadcasting technology. As of September 7, 2021, Special committee approved the transaction. Offer will be closed on September 28, 2021. Clifford Cheng of Somerley Capital Limited acted as financial advisor for Li Jun. Altus Capital Limited acted as financial advisor for independent committee of Board of Century Sage Scientific Holdings.