Jian ePayment Systems Limited (SEHK:8165) entered into an agreement to acquire Vermont Ridge Limited from Chen for HKD 14 million on October 26, 2018. The consideration will be settled at Completion by the allotment and issue of 216.9 million shares to Chen. In a related transaction, Jian ePayment Systems Limited (SEHK:8165) entered into an agreement to acquire Vast Praise International Limited from Zhou on October 26, 2018. Completion will be conditional upon the satisfaction of all necessary approvals from government authority or other third party by Jian ePayment and Great Harvest Global Limited, approval of Shareholders and the Independent Shareholders, approval from the Listing Committee of the Stock Exchange for the new listing application by Jian ePayment, simultaneous completion of acquisition of Vast Praise International Limited and Jian ePayment being satisfied with the results of due diligence. On January 31, 2020, Jian ePayment Systems states that it had submitted a new listing application in connection with the resumption proposal in May 2019 has intends to resubmit the listing application on or before February 28, 2020. On 28 February 2020, the Company re-submitted the listing application to continue its application to list on the Stock Exchange with few amendments like capital reorganization comprising a share premium cancellation, share consolidation, capital reduction, unissued share capital cancellation and authorised share capital increase; implementation of a public offer concurrent with a preferential offering to qualifying shareholders of the Company as assured entitlement; and change in the the number of Consideration Shares to be allotted and issued to the vendors upon Completion and the Issue Price. The transaction is expected to close on December 31, 2019. As on December 31, 2019, the long stop has been extended to June 30, 2020.