Tian An China Investments Company Limited agreed to acquire 60% stake in Noble-Link Worldwide Inc. from Beauty Pearl Holdings Limited for CNY 480 million on July 29, 2016. The transaction also includes assignment of the shareholder’s loan in the amount of CNY 354 million owed by Noble-Link Worldwide to Beauty Pearl Holdings Limited. Under the terms of transaction, Tian An China Investments will pay CNY 16 million within three days from the date of sale and purchase agreement, an amount of CNY 278 shall be payable by Tian An China Investments by transferring a sum of CNY 258 million to the jointly-controlled account and a sum of CNY 20 million to a bank account designated by the vendor within 10 days from the completion date, Tian An China Investments will pay CNY 35 million within 20 days from the completion date, CNY 51 million within 30 days from the completion date, CNY 40 million will be transferred to the jointly-controlled account within 45 days from the completion date and the final payment in an amount of CNY 60 million will be payable when the 5,370 square meters parcel of land in Nanjing requires for its development within one year from the completion date. The first payment of CNY 16 million and final payment of CNY 60 million will be utilized as a shareholder’s loan granted by the Beauty Pearl Holdings Limited to Noble-Link Worldwide. For the year ended December 31, 2015 Noble-Link Worldwide Inc reported the revenue as HKD 0.05 million (CNY 0.043 million) and net loss as HKD 9.3 million (CNY 7.9 million). The transaction is subject to approval of Board of Directors of Tian An China Investments, approval from Boards and/or investment committees of the parent and associated management entities of Tian An China Investments, the approvals of the Board of Directors of Beauty Pearl Holdings Limited, approval from third party, regulatory, tax authority. The transaction is expected to be completed within 20 business days after the date of sale and purchase agreement. The currency conversions are done using oanda.com.