Wong Chau Chi, Chief Executive of CMMB Vision Holdings Limited, an executive Director and the Chairman of the Board offered to acquire remaining 48.8% stake in CMMB Vision Holdings Limited (SEHK:471) for HKD 93.6 million on December 7, 2021. Under the terms offer price is set to HKD 0.4 per share. The Offeror intends to finance the maximum consideration payable under the Offers of approximately HKD 94.3 million through a loan facility of HKD 146 million under the Loan Agreement. Wong Chau intends the Company to remain listed on the Stock Exchange after the close of the Offers and existing principal activities will be maintained after the close of the Offers. The Offers are unconditional in all respects when it is made and will not be conditional upon acceptances being received in respect of a minimum number of Shares or other conditions. The Offeror does not intend to exercise or apply any right which may be available to them to acquire compulsorily any Shares outstanding after the close of the Offers. CMMB established an independent committee of the Board comprising all non-executive Directors, namely Liu Hui, Chou Tsan-Hsiung and Yang Yi and all independent non-executive Directors, namely Li Jun, Chow Kin Wing and Tam Hon Wah to recommend the Independent Shareholders and Option holders as to whether the terms of the Offers are fair and reasonable and as to acceptance of the Offers. Based on the advise from financial advisors, Independent board Committee of CMMB unanimously recommends the Independent Shareholders and Option holders to accept the Offers. Offer will open for acceptance on January 14, 2022 and will close on February 4, 2022.

Kingston Corporate Finance Limited and Veda Capital Limited acted as joint financial advisors to Wong Chau Chi. Baldwin LEE of Centurion Corporate Finance Limited and Winnie KONG of CNI Global Capital Limited acted as financial advisors to the Independent Board Committee of CMMB Vision Holdings Limited. Rainbow Capital (HK) Limited acted as financial advisor and Computershare Hong Kong Investor Services Limited acted as registrar to CMMB Vision Holdings Limited.

Wong Chau Chi, Chief Executive of CMMB Vision Holdings Limited, an executive Director and the Chairman of the Board completed the acquisition of an additional 0.03% minority stake in CMMB Vision Holdings Limited (SEHK:471) for HKD 0.06 million February 4, 2022. At the close of Offer, Offeror received valid acceptances in respect of a total of 152,469 Offer Shares and a total of 585,000 Offer Options.