Liu Yi and Huang Jianying entered into the Sale and Purchase Agreement to acquire 51% stake in Gameone Holdings Limited (SEHK:8282) from Wong Pui Yain, Wong Kiam Seng, Sze Yan Ngai and Chan Lai Chu for HKD 48.96 million on November 25, 2021. As per terms of transaction, the Liu Yi conditionally agreed to acquire 56.893 million Shares representing approximately 35.56% of the total issued share capital of the Gameone Holdings Limited as at the date of this joint announcement from the First Vendor at the cash consideration of HKD 34.1358 million. Huang Jianying conditionally agreed to acquire 24.707 million shares representing approximately 15.44% of the total issued share capital of the Gameone Holdings Limited as at the date of this joint announcement from the Second Vendor at the cash consideration of HKD 14.8242 million. The Offeror intends to finance and satisfy the consideration payable under the Offer by the loan facility under the Facility Agreement. The Offeror and the Huang Jianying intend to finance and satisfy the Consideration with their internal resources. It is expected that all executive Directors (except Sze Yan Ngai and non-executive Director will resign from the Board with effect from the earliest time permitted under the Takeovers Code. It is expected that Sze Yan Ngai will remain as a Director after the close of the Offer. The Offeror and Mr. Huang intend to nominate new directors Liu Yi and Huang Jianying for appointment to the Board with effect from the earliest time permitted under the Takeovers Code. Transaction is expected to complete on December 3, 2021. Innovax Capital acted as financial advisor to Liu Yi. Liu Yi and Huang Jianying completed the acquisition of 51% stake in Gameone Holdings Limited (SEHK:8282) from Wong Pui Yain, Wong Kiam Seng, Sze Yan Ngai and Chan Lai Chu on November 26, 2021.