Ronglian Investments Limited enter into an agreement to acquire LOFT division from NedSense Enterprises NV (ENXTAM:NEDSE) for €8 million on January 4, 2016. Under the terms of the agreement purchase price €8 million out of which €1.6 million will be put in escrow with a third party escrow agent as additional recourse for Ronglian for a period of 12 months after closing of the transaction. The transaction subject to NedSense shareholder approval, is expected to be completed on February 29, 2016.

An extraordinary shareholders' meeting is expected to be held on February 25, 2016, with completion of the transaction scheduled for February 29, 2016. The proceeds of the transaction will be used to repay all outstanding debt of NedSense. The transaction will delay due to certain regulatory requirements regarding money transfer from China and is now scheduled to close on March 31, 2016.

Marein Smits of Wintertaling advocaten en notaris acted as the legal advisor to Ronglian Investments Limited.