Finsoft Financial Investment Holdings Limited (SEHK:8018) acquired Darts Connect International Limited from two individual (vendors) for HKD 21.6 million on August 9, 2018. Under the terms, Finsoft Financial Investment Holdings Limited acquired 0.03 million shares of Darts Connect International Limited in cash. Pursuant to the terms, HKD 10.8 million (First Instalment) shall be paid by the Finsoft Financial Investment Holdings Limited at completion and the remaining consideration of HKD 10.8 million which is subject to the adjustment shall be paid by the Finsoft Financial Investment Holdings Limited within 14 Business Days after the issue of the 2018 Darts Connect International Limited audited accounts. Under the sale and purchase agreement, vendors irrevocably and unconditionally guarantee to the Finsoft Financial Investment Holdings Limited that the audited net profit before tax (audited profit) of the Darts Connect International Limited for the financial year ending December 31, 2018 based on the 2018 Darts Connect International Limited audited accounts shall not be less than HKD 4 million. If the audited profit shall be less than HKD 4 million the remaining consideration of HKD 10.8 million shall be adjusted to HKD 0 and the amount of the consideration shall be so adjusted to the amount of the first instalment (HKD 10.8 million) only. If the audited profit shall be equal to or more than HKD 4 million then Finsoft Financial Investment Holdings Limited shall pay the remaining consideration of HKD 10.8 million. Finsoft Financial Investment Holdings Limited agrees that it shall procure the 2018 Darts Connect International Limited audited accounts to be issued on or before May 31, 2019. The consideration will be funded by the internal resources of the Finsoft Financial Investment Holdings Limited and its subsidiaries. Post-acquisition, Darts Connect International Limited has become a wholly-owned subsidiary of the Finsoft Financial Investment Holdings Limited. For the year ended December 31, 2017, Darts Connect International Limited reported net profit after taxation of HKD 0.18 million. Upon Completion, vendors has executed his respective employment agreement with the Darts Connect International Limited for his employment as the general manager and the business manager of Darts Connect International Limited respectively in accordance with the terms and conditions thereof for a term commencing from the date of the sale and purchase agreement to December 31, 2020 which may be terminated by one month’s notice in writing served by any party to the other. Under the sale and purchase agreement, vendors agree and unconditionally and irrevocably undertake that if any of them terminates his employment agreement for whatsoever reason on or before December 31, 2020, such vendor shall compensate Finsoft Financial Investment Holdings Limited a sum in the amount of HKD 5.3 million in cash on the date of the termination of his employment agreement by him. Finsoft Financial Investment Holdings Limited (SEHK:8018) completed the acquisition of Darts Connect International Limited from two individual (vendors) on August 9, 2018.