An unknown buyer entered into sale and purchase agreement to acquire land registry of the remaining portion of rural building lot No. 352 from Carnival Group International Holdings Limited (SEHK:996) for HKD 1.9 billion on December 30, 2018. The consideration is subject to a deduction of bank loan. The buyer has paid HKD 50 million as earnest money to Carnival Group International Holdings Limited’s solicitors on December 14, 2018, HKD 136 million being the deposit has been paid to Carnival Group International Holdings Limited’s solicitors on the next day of sale and purchase agreement, HKD 314 million shall be payable to Carnival Group International Holdings Limited on next business day after singing the agreement, HKD 1.3 billion less the amount payable under bank loan shall be payable to Carnival Group International Holdings Limited n completion. A sum of HKD 60 million shall be payable on January 17, 2019 and adjusted amount of consideration shall be payable within ten business days from the date of finalization of final completion statement. Amounts paid to the buyer’s solicitors as stakeholder will be released to Carnival Group International Holdings Limited or at its direction on or prior to completion. The transaction is subject to certain conditions including approval from shareholders of Carnival Group International Holdings Limited, no material adverse change to the accounting and no breach of warranties. The Directors including the independent non-executive Directors are of the view that the terms of the transaction are on normal commercial terms and fair and reasonable and in the interest of Carnival Group International Holdings Limited and the shareholders as a whole. Completion shall take place on January 14, 2019 or after five business days after obtaining shareholder’s approval on or before February 28, 2019. An unknown buyer completed the acquisition of land registry of the remaining portion of rural building lot No. 352 from Carnival Group International Holdings Limited (SEHK:996) on January 14, 2019.