Chan Weng Lin made an offer to acquire a 29.18% stake in Macau Legend Development Limited (SEHK:1680) for HKD 1.9 billion on September 21, 2020. Under the terms of the acquisition, Chan Weng Lin will acquire 1.8 billion shares in Macau Legend for HKD 1.05 per share. The transaction will be financed from the internal resources of Chan Weng Lin. Pursuant to the transaction, Chan Weng Lin wil not terminate the employment of any employees of the Group or to make significant changes to any employment. After the close of the Offer, David Chow will continue to be the co-chairman of the Board and will become a non-executive Director and Chan Mei Yi, Melinda will continue to act as the executive Director and the chief executive officer of Macau Legend, while Chow Wan Hok, Donald and Sheldon Trainor-DeGirolamo will resign as executive Directors and Mr. Tong Ka Wing, Carl will resign as the non-executive Director and the co-chairman of the Board, and the Offeror has no intention to change the other existing Directors. An Independent Board of Directors with Fong Chung, Mr. Xie Min and Tam Wai Chu, Maria who have no direct or indirect interest in the Offer has been established to make recommendations to the Offer Shareholders on whether the terms of the Offer are fair and reasonable and as to the acceptance of the Offer. Lego Corporate Finance acted as financial advisor to Chan Weng Lin while Altus Capital acted as financial advisor to the Independent Board Committee for the transaction.