Crown King Corporation Limited entered into an agreement to acquire 100% sale shares and the group’s loans of CineUnited Circuits Company Limited from HMV Digital China Group Limited (SEHK:8078) for approximately HKD 20 million on January 4, 2019. Under the terms, consideration amount less the aggregate liability of CineUnited Circuits Company's group shall be paid by Crown King Corporation to Crown King Corporation or it's nominee upon completion which shall be placed in the CineUnited Circuits Company's group as the general working capital. For the year ended June 30, 2018, CineUnited Circuits Company Limited's total revenue is HKD 0.04 million and net loss before tax is HKD 0.03 million. The transaction is subject to the approval of Board of Directors and shareholders of HMV Digital China Group, completion of the due diligence by Crown King Corporation and HMV Digital China Group in a manner satisfactory to Crown King Corporation, agreement of the aggregate liability and none of the warranties made by Crown King Corporation under, and other provisions of the agreement having been breached in any material respect or is misleading or untrue in any material respect. Post completion, CineUnited Circuits Company Limited will cease to be the subsidiary of HMV Digital China Group. The transaction is expected to complete 30 days after the cut-off date (December 20, 2018) or such other date as agreed upon.