An unknown buyer entered into sale and purchase agreement to acquire 30% stake in AP Assets Limited from Jun Yang Financial Holdings Limited (SEHK:397) for HKD 27.1 million on April 25, 2017. The payment will be made in cash. AP Assets Limited reported net assets of HKD 44.3 million and total assets of HKD 50.7 million as of December 31, 2016. The transaction is conditional upon Jun Yang Financial Holdings having complied with all applicable requirements under the listing rules in respect of the transactions contemplated under the agreement. The condition precedent is not capable of being waived by any party to the agreement. If the condition precedent are not fulfilled by June 30, 2017, all rights and obligations of the parties will cease and terminate. Completion will take place on the tenth business day after the condition precedent has been fulfilled.