Sheen Success Corporation Limited entered into the share transfer agreement to acquire remaining 30% stake in Jolly State International Limited from Hsu Wei-Fu for $14 million on August 3, 2020. Under the terms of transaction, 30% of the Consideration in the amount of $4.185 million will be paid within 5 business days after signing of the share transfer agreement, 50% of the Consideration in the amount of $6.975 million will be paid within 14 business days after Sheen Success Corporation received the share certificate and the share transfer documents, which shall be provided within 5 business days after the Hsu Wei-Fu received 30% of the Consideration and 20% of the Consideration in the amount of $2.79 million will be paid within 5 business days after the completion of the registration for the transfer of the Sale Shares by Sheen Success Corporation Limited. The Consideration will be funded by a bank loan of Samson. On December 31, 2019, Jolly State International Limited reported Net profit after taxation as $1.33155 million. The transaction is subject to customary closing conditions, including reporting and announcement requirements, independent financial advice and independent shareholders’ approval requirements. Board has approved the Share Transfer Agreement and independent non-executive Directors have confirmed that the terms of the share transfer agreement and the transactions contemplated thereunder are fair and reasonable. Samson Holding Ltd. (SEHK:531) completed the acquisition of remaining 30% stake in Jolly State International Limited from Hsu Wei-Fu on December 31, 2020.