Lau Luen Hung, Thomas agreed to acquire a 25.08% stake in Lifestyle International Holdings Limited (SEHK:1212) for HKD 1.9 billion on August 1, 2022. Under the terms of the proposal HKD 5 in cash per share will be issued as consideration. Lau intends to finance the cash requirement for the transaction through a non-revolving facility made available by JPMSG (JPMorgan Chase Bank, N.A., Singapore Branch). Lau holds 7.55% stake and Lau's SPV Entities holds 67.36% stake in Lifestyle International. The Independent Board Committee has been established to advise the Independent Shareholders as to whether the terms of the Proposal and the Scheme are fair and reasonable, and whether to vote in favor of the Scheme at the Court Meeting and the Proposal at the General Meeting. Transaction is conditional upon approval of Lifestyle International's shareholders and all necessary legal or regulatory obligations in all relevant jurisdictions. Transaction has a long stop date as February 3, 2023. As of December 16, 2022, Scheme is expected to be effective on December 19, 2022.

DBS Asia Capital Limited acted as a financial advisor to Lau in the transaction. Anglo Chinese Corporate Finance, Limited acted as financial advisor to Lifestyle International Holdings Limited.