An unknown buyer signed the sale and purchase agreement to acquire Biofuel Limited from Green Energy Group Limited (SEHK:979) for HKD 3 million on December 29, 2016. The consideration shall be settled in cash, as to HKD 1 million on the date of the agreement as a deposit, as to HKD 1 million at completion and as to the remaining HKD 1 million within one month after the date of completion. Green Energy shall refund the deposit without interest before completion, in the event that neither of the conditions shall be fulfilled within one month from the date of the agreement; or Green Energy shall elect to rescind the agreement. Biofuel Limited reported net loss before and after taxation of HKD 3.1 million for the year ended December 31, 2015. The completion is subject to due diligence review, all necessary approvals or consents from all third parties, the relevant governmental or regulatory authorities in Hong Kong and elsewhere. The directors of Green Energy Group Limited consider the deal as fair. The deal can be terminated if the conditions are not fulfilled within one month from the date of the agreement. Completion shall take place within one month from the date of the agreement. Green Energy intends to use the proceeds for financing future potential investment opportunities and/or general working capital. An unknown buyer completed the acquisition of Biofuel Limited from Green Energy Group Limited (SEHK:979) on January 27, 2017.