Chan Weng Lin entered into share purchase agreement to acquire 20.6% stake in Macau Legend Development Limited (SEHK:1680) from David Chow, All Landmark Properties Limited and PacBridge Capital Partners (HK) Limited for HKD 1.3 billion on September 11, 2020. As per the agreement, Chan Weng Lin will acquire 920 million share representing 14.84% of entire issued share capital of Macau Legend Development Limited from David Chow for HKD 966 million, 319 million share representing 5.16% of the entire issued share capital of Macau Legend Development Limited form All Landmark Properties Limited for HKD 335 million and 40 million share representing 0.65% of the entire issued share capital of Macau Legend Development Limited from PacBridge Capital Partners (HK) Limited for HKD 42 million. The consideration will be paid in cash. The transaction will be completed on three business days after all conditions of the share purchase agreement are fulfilled. As on September 24, 2020, the parties entered into a side letter and amend the settlement mechanism. Under the side letter terms at least two Business Days before the Completion Date, Chan Weng Lin and David Chow, All Landmark Properties Limited and PacBridge Capital Partners (HK) Limited duly execute the bought and sold notes in respect of the Sale Shares respectively subject to the bought and sold notes having been duly stamped, Chan Weng Lin shall deliver cheques to be issued by a designated securities firm on behalf of Chan Weng Lin in the amount of the consideration for the 920 million Shares in favor of David Chow and the 319 million Shares in favor of All Landmark and shall do or cause to be done such further acts in order to ensure such cheques having been so cleared and cashed. On the Completion Date Chan Weng Lin will pay PacBridge Capital the consideration for the 40 million Shares by giving an irrevocable delivery instruction to its CCASS Participant on the basis of delivery versus payment in accordance with the General Rules and the Operational Procedures of CCASS. The transaction is expected to close on October 5, 2020. Yang Chu and Shifeng NiDavis of Polk & Wardwell LLP, Hong Kong Office acted as legal advisors to David Chow, All Landmark Properties Limited and PacBridge Capital Partners (HK) Limited. Chan Weng Lin completed the acquisition of 20.6% stake in Macau Legend Development Limited (SEHK:1680) from David Chow, All Landmark Properties Limited and PacBridge Capital Partners (HK) Limited on October 5, 2020.