eSun Holdings Limited (SEHK:571) made an offer to acquire remaining 32.3% of stake in Media Asia Group Holdings Limited (SEHK:8075) from Anglo Chinese Corporate Finance, Limited, Cheung Wah Fung, Christopher and others for approximately HKD 350 million on November 10, 2022. MAGHL will become a direct wholly-owned subsidiary of eSun Holdings upon the Scheme becoming effective and the listing of MAGHL Shares will be withdrawn from GEM. The transaction is subject to approval of shareholders of eSun Holdings and Media Asia Group and subject to court approval. The transaction is expected to close on March 27, 2023. Anglo Chinese Corporate Finance, Limited acted as financial advisor to eSun Holdings. Red Sun Capital Limited has been appointed as the Independent Financial Adviser and fairness opinion provider to Media Asia Group Holdings Limited Independent Board Committee in connection with the Proposal and the Scheme. As a result, all the Scheme Conditions were fulfilled and the Scheme became effective on Thursday, March 16, 2023. Elections for the Partial Cash Alternative in respect of a total of 809,548,215 Scheme Shares, representing approximately 83.94% of the total number of Scheme Shares, had been made by the Scheme Shareholders. The remaining Scheme Shareholders holding a total of 154,917,153 Scheme Shares, representing approximately 16.06% of the total number of Scheme Shares, will receive the Share Alternative. Accordingly, an aggregate of 264,022,268 new eSun Consideration Shares (representing approximately 17.70% of the total issued eSun Shares as at the date of this joint announcement) will be allotted and issued, and cash consideration in the total amount of approximately HKD 194.29 million will be paid, to the relevant Scheme Shareholders in satisfaction of the Cancellation Consideration under the Proposal.