Shanghai Luoman Lighting Technologies Inc. (SHSE:605289) signed Investment Intention Agreement to acquire 85% stake in Predaptive Od Limited from Equal Creation Ltd, Stuart Hetherington, Andrew Brown and Joe Jurado for £22.8 million on December 27, 2023. £21,171,300 will be paid on closing and £1,653,800 of performance achievement consideration payment depends on the achievement of the target company's performance targets during the first and second relevant transaction periods. Consideration will be paid in cash.

The transaction is subject to clearance from Chinese regulatory authorities. Shanghai Luoman will acquire 40% stake from Equal Creation and 15% each from Stuart Hetherington, Andrew Brown and Joe Jurado. King & Wood Mallesons, China acted as legal advisor and Ernst & Young (China) Corporate Consulting Co., Ltd. Shenzhen branch acted as financial due diligence provider to Shanghai Luoman Lighting.