Power Giant Holdings Limited entered into a sale and purchase agreement to acquire a 14.20% stake in Sing Tao News Corporation Limited (SEHK : 1105) from Vast Resources International Limited on May 27, 2022. Prior to transaction, Vast Resources owns a 28.39% stake in Sing Tao News and upon completion of transaction, Vast Resources and Power Giant Holdings both will own approximately 14.20% stake in it. The Board announces that with effect from May 30, 2022, Choi Karson Ka Tsan has been re-designated from independent non-executive Director to executive Director and appointed as co-chairman of the Board and Kwok Ying Shing, chairman of the Board and executive Director, has been re-designated as co-chairman of the Board with effect from May 30, 2022 and will remain an executive Director. Completion of the transaction is subject to the fulfilment or waiver (as the case may be) of certain conditions.

Power Giant Holdings Limited completed the acquisition of a 14.20% stake in Sing Tao News Corporation Limited (SEHK : 1105) from Vast Resources International Limited on September 19, 2022.