Chen Xiao’er signed a share purchase agreement to acquire 75% stake in HKE Holdings Limited (SEHK:1726) from Skylight Illumination Limited for approximately HKD 290 million on July 15, 2019. Under the agreement, Chen Xiao’er will acquire 600 million shares at HKD 0.48 per share. In a related transaction, Chen Xiao’er made an offer to acquire the remaining 25% stake in HKE Holdings Limited for HKD 96 million on July 17, 2019. Chen Xiao’er will finance the transaction with its internal resources. The transaction is subject to the clearance by the Stock Exchange and the SFC of this joint announcement, approvals by the Board of Directors and Shareholders of Skylight Illumination and all consents and clearance by authorities and/or any third parties such as the banks, financial institutions, creditors, suppliers and/or customers. The transaction is subject to Skylight Illumination having complied with all its obligations under the agreement as on closing and completion of the due diligence review. If the conditions are not satisfied or waived on or before the completion date, the deal shall automatically terminate without liability to any parties. Akron Corporate Finance Limited acted as the financial advisor for Chen Xiao’er. Chen Xiao’er completed the acquisition of 75% stake in HKE Holdings Limited (SEHK:1726) from Skylight Illumination Limited on July 22, 2019.