An unknown buyer signed an agreement to acquire Dalian Development Area Jinma Building Enterprise Co., Ltd. (Dalian) from Tian An China Investments Co. Ltd. (SEHK:28) for approximately HKD 460 million in cash on January 6, 2014. Out of the total consideration, approximately HKD 140 million will be paid for the shares acquired and HKD 320 million to be paid for the shareholder’s loan owed by Dalian. In addition, the buyer has facilitated the provision of a one-year loan in the amount of HKD 50.63 million for the sole purpose of repaying a loan owed by Dalian to Dalian TianAn. This loan shall be repaid by Dalian upon the expiry of the term or within 10 business days from the date on which this agreement is terminated. The first payment of HKD 1.01 million shall be paid on the date of the agreement, in the event that the purchaser is able to pay the amount of approximately HKD 144.56 million on or before February 20, 2014, the first payment of HKD 1.01 million and the earnest money of HKD 6.33 million shall be converted into part of the deposit, else Tian An China Investments shall provide with a one-month extension, provided that (i) the first payment of HKD 1.01 million and the earnest money will not be converted into as part payment of the deposit, and the first payment shall be forfeited by Tian An China Investments as an agreed compensation and the total amount shall be HKD 151.89 million instead of HKD 144.56 million. In addition, Tian An China Investments shall charge the purchaser interest for the period from February 20, 2014 until the date of actual payment at a rate of 0.06% per day. If the purchaser is not able to settle the amount of HKD 151.89 million on or before March 20, 2014, Tian An China Investments shall have the right to terminate the agreement and the purchaser shall pay to Tian An China Investments an agreed compensation, being 15% of the consideration. The remainder of the deposit HKD 303.79 million shall be on or before March 20, 2014. In the event that the purchaser cannot settle the remainder of the deposit on or before March 20, 2014, Tian An China Investments shall provide a one-month extension, if, upon the expiry of the one-month extension, the purchaser has not settled the remainder of the deposit, the purchaser shall have the right to charge Tian An China Investments an interest at a rate of 0.06% per day. If after 30 days from the expiry of the one-month extension period, the purchaser remains unable to settle the remainder of the deposit, Tian An China Investments shall have the right to terminate the agreement and the purchaser shall pay to Tian An China Investments an agreed compensation, being 15% of the consideration. Dalian Development Area Jinma Building Enterprise reported net loss before taxation and after taxation of HKD 14.9 million in the eleven months ending November 30, 2013 and the unaudited net asset value of the equity interest of the Dalian was approximately HKD 316.08 million as at November 30, 2013. The transaction is expected to close on June 30, 2014. The proceeds will be applied as general working capital of the Group. The transaction will result in a gain of HKD 128.42 million. As on September 19, 2014, An unknown buyer signed supplemental agreement to acquire Dalian Development Area Jinma Building Enterprise Co., Ltd. (Dalian) from Tian An China Investments Co. Ltd. (SEHK:28). Also, the vendor will charge the undisclosed buyer interest on amount remaining for the period from June 21, 2014 until the date of actual payment. Also, commencing from the date of the supplemental agreement until the completion date, the undisclosed buyer will be responsible for the payment of all construction costs payable by Dalian Jinma under the construction projects of Dalian Jinma. Under the Supplemental Agreement, the Guarantor shall unconditionally and irrevocably guarantee the due and punctual payment in full of the payment obligations. The parties to the transaction entered into second supplemental agreement on September 13, 2016. An unknown buyer cancelled the acquisition of Dalian Development Area Jinma Building Enterprise Co., Ltd. (Dalian) from Tian An China Investments Co. Ltd. (SEHK:28) on March 13, 2017.