Tan Bingzhao agreed to make an offer to acquire a 26.16% stake in The Grande Holdings Limited (SEHK:186) from The Ho Family Trust Limited and others for approximately HKD 260 million on August 29, 2017. In a related transaction, Wealth Warrior Global Tan Bingzhao into a non-binding letter of intent to acquire a 65.85% stake in The Grande Holdings Limited from Sino Bright Enterprises Co., Ltd. The offer period commenced on August 29, 2017. The offer price is HKD 0.18 per share. The offeror intends to finance the total consideration payable under the offer by its own financial resources. The offeror intends to maintain the listing of the shares on the stock exchange after the close of the offer. The directors who will be nominated by the offeror and appointed as directors and the sole director of the offeror will undertake to the stock exchange to take appropriate steps as soon as possible following the close of the offer to ensure that a sufficient public float exits for the shares. The independent board committee comprising the non-executive director, namely Eduard William Rudolf Helmuth Will and all the independent non-executive directors, namely Lau Ho Kit, Ivan and Chen Xiaoping, has been formed to advise the independent shareholders as to whether the terms of the offer are fair and reasonable and as to the acceptance of the offer. The offeror intends to nominate new directors to the board of The Grande Holdings Limited. The offer is unconditional in all respects. On December 1, 2017, the circular for transaction is filed. The offer opens on December 1, 2017 and closes on December 22, 2017. Gram Capital Limited consider the offer price as unattractive and terms of offer as not fair and reasonable so recommends independent board committee to advise the independent shareholders not to accept the offer. The independent board committee does not consider the offer as fair and reasonable and so recommends shareholders not to accept the offer. BaoQiao Partners acted as financial advisor to Tan Bingzhao. Gram Capital Limited has been appointed as independent financial advisor to advise the independent board committee of The Grande Holdings Limited. Tan Bingzhao completed the acquisition of 0.004% stake in The Grande Holdings Limited (SEHK:186) from The Ho Family Trust Limited and others for HKD 0.04 million on December 22, 2017. During the offer period 0.2 million shares tendered and accepted. Upon completion of the offer, Tan Bingzhao holds 73.85% stake in The Grande Holdings Limited.