Diandian Interactive Holding entered into a memorandum of understanding to acquire 69.2% stake in Leyou Technologies Holdings Limited (SEHK:1089) from Novel New Limited and Port New Limited on April 29, 2020. Diandian Interactive will acquire certain or all of the issued share capital of Leyou in which Yuk Kwok Cheung Charles is interested. As of April 29, 2020, Yuk Kwok is interested in 2,132,694,522 Shares in aggregate, which comprise of 1,539,894,522 Shares held by Port New, 74,100,000 Shares held by Novel New and 518,700,000 Shares held by Alpha Frontier Limited, of which Port New was granted an option to purchase all such Shares pursuant to a call option agreement, representing approximately 69.2% of the issued share capital of Leyou Technologies in aggregate. Diandian Interactive Holding has agreed to pay a sum of $80 million as earnest money. If the formal agreement is entered into, the earnest money shall be applied towards partial payment of the consideration. A formal sale and purchase agreement will be entered within 90 days from the execution of the MOU. Diandian Interactive Holding has been granted exclusivity period, unless with the prior written consent, Novel New Limited and Port New Limited will not sell, transfer, pledge or otherwise dispose of their shares in the Leyou Technologies Holdings Limited or interest therein directly or indirectly held by them to any party other than Diandian Interactive Holding.