Wong Kui Shing, Danny entered into a memorandum of understanding to acquire 36.1% stake in Deson Construction International Holdings Limited (SEHK:8268) from Deson Development International Holdings Limited (SEHK:262) and Tjia Boen Sien, Managing Director and deputy Chairman of Deson Development and non-executive Director of Deson Construction on February 21, 2019. Wong Kui Shing, Danny entered into a sale and purchase agreement to acquire 36.1% stake in Deson Construction International Holdings Limited from Deson Development International Holdings Limited and Tjia Boen Sien, Managing Director and deputy Chairman of Deson Development and non-executive Director of Deson Construction for HKD 79.5 million on April 12, 2019. In a related transaction, Wong Kui Shing, Danny made an offer to acquire 63.8% stake in Deson Construction International Holdings Limited for HKD 140 million on April 12, 2019. The consideration shall be settled in cash. Wong Kui Shing, Danny will acquire 361.3 million shares of Deson Construction International Holdings Limited at a price of HKD 0.22 per share. The consideration would be funded from the internal sources of Wong Kui Shing, Danny. Wong Kui Shing, Danny has paid an earnest sum in the amount of HKD 2 million. Deson Development International Holdings Limited shall sell 311.77 million shares and Tjia Boen Sien shall sell 49.53 million shares of Deson Construction International Holdings Limited, respectively. Prior to the transaction, Deson Development International Holdings Limited holds 31.18% stake and Tjia Boen Sien holds 4.95% stake in Deson Construction International Holdings Limited, respectively. Post completion, Deson Development International Holdings Limited and Tjia Boen Sien shall cease to have any interest in Deson Construction International Holdings Limited. The parties will enter into the formal binding agreements upon the completion of the relevant due diligence. The completion of the sale and purchase agreement will be subject to approval by shareholders of Deson Development International Holdings Limited. On June 11, 2019, the transaction is approved by shareholders of Deson Development International Holdings Limited. An independent Board committee is formed including Ong King Keung, Lee Tho Siem, Cheung Ting Kee and Chan Ka Yin to advise independent shareholders of Deson Development International Holdings Limited. The transaction has been approved by the Board of Deson Development International Holdings Limited on 12 June 2019, whereby all the conditions have been fulfilled. The memorandum of understanding will automatically lapse if the parties fail to enter into formal binding agreements after the expiry of the exclusivity period, unless otherwise agreed. As per the update on April 12, 2019, the long stop date for the transaction is June 30, 2019. As per the update on June 12, 2019, the transaction is expected to be completed by June 18, 2019. INCU Corporate Finance Limited and Global MasterMind Securities Limited acted as financial advisor for Wong Kui Shing, Danny.

Wong Kui Shing, Danny completed the acquisition of 36.1% stake in Deson Construction International Holdings Limited from Deson Development International Holdings Limited and Tjia Boen Sien, Managing Director and deputy Chairman of Deson Development and non-executive Director of Deson Construction on June 18, 2019.