Tonly Electronics Holdings Limited (SEHK:1249) signed an agreement to acquire remaining 20% stake in Tonly Electronics Limited from Yu Guanghui and his wife, Song Yonghong, Ren Xuenong and other shareholders for approximately HKD 210 million in stock on February 25, 2014. As a part of the consideration, Tonly Electronics Holdings will issue 32.7 million new shares to sellers. For the year ending December 31, 2013, Tonly Electronics reported net profit before tax of HKD 151.5 million, net profit after tax of HKD 134.06 million, total assets of HKD 2.6 billion, total liabilities of HKD 2.1 billion and net assets of HKD 515.6 billion. The deal is subject to listing of new shares on stock exchange, approval by shareholders of Tonly Electronics Holdings and approval by relevant government authorities. An Independent Board Committee has been established to advise the shareholders of Tonly Electronics Holdings Limited. The Independent Board Committee of Tonly Electronics Holdings recommended the shareholders to vote in favour of the deal at the EGM. The deal is expected to be completed by May 7, 2014. Shenyin Wanguo Capital (H.K.) Ltd. acted as financial advisor for the Independent Board Committee of Tonly Electronics Holdings Limited. Tricor Investor Services Limited acted as transfer agent to Tonly Electronics Holdings Limited.

Tonly Electronics Holdings Limited (SEHK:1249) completed the acquisition of remaining 20% stake in Tonly Electronics Limited from Yu Guanghui and his wife, Song Yonghong, Ren Xuenong and other shareholders on May 15, 2014.