Cheng Kar-Shun, Henry made an offer to acquire 56.8% of stake in i-CABLE Communications Limited (SEHK:1097) from South China Financial Holdings Limited (SEHK:619), Ng Hung Sang, Ng Lai King Pamela and others for approximately HKD 110 million on November 9, 2021. As of February 17, 2022, Cheng Kar has received valid acceptances in respect of an aggregate of 646,653,295 Offer Shares under the Share Offer, representing approximately 9.06%. The Offeror intends to finance the maximum amount payable to satisfy the consideration for the Offers of HKD 107.4 million by its internal cash resources. The Option Offer will be subject to and conditional upon the Share Offer becoming or being declared unconditional. The offer will commence on January 27, 2022 and will end on March 3, 2022. Halcyon Capital Limited acted as financial advisor to Cheng Kar-Shun and Altus Capital Limited acted as financial advisor to i-CABLE.

Cheng Kar-Shun, Henry completed the acquisition of 9.09% of stake in i-CABLE Communications Limited (SEHK:1097) from South China Financial Holdings Limited (SEHK:619), Ng Hung Sang, Ng Lai King Pamela and others for approximately HKD 17.1 million on March 3, 2022.