Chen Jiarong entered into an agreement to acquire an additional 15.87% stake in UKF (Holdings) Limited (SEHK:1468) from Wong Chun Chau and Kwok Yin Ning for approximately HKD 180 million on February 12, 2018. Chen Jiarong will acquire 723.03 million shares at HKD 0.25 per share and will pay the consideration in cash on completion. Wong Chun Chau will sell 688.77 million shares representing 15.11% stake and Kwok Yin Ning will sell 34.26 million shares representing 0.75% stake. Prior to the transaction, Chen Jiarong held 738.26 million shares representing 16.2% stake, Wong Chun Chau held 724.77 million shares representing 15.9% stake and Kwok Yin Ning held 39.26 million shares representing 0.86% stake in UKF (Holdings) Limited. After the transaction, Chen Jiarong will hold 1.46 billion shares representing 32.07% stake, Wong Chun Chau will hold 36 million shares representing 0.79% stake and Kwok Yin Ning will hold 5 million shares representing 0.11% stake in UKF (Holdings) Limited. In a related transaction, Chen Jiarong made an offer to acquire remaining stake in UKF (Holdings) Limited from Yan Kam Cheong and others for approximately HKD 790 million. The transaction shall be funded through internal resources and loan facilities. The transaction is subject to shares of UKF (Holdings) Limited remaining listed and traded on the Stock Exchange, the necessary consent from the Securities and Futures Commission of Hong Kong for Chen Jiarong to become indirect substantial shareholders of Great Roc Capital Securities Limited and Great Roc Asset Management Limited (which are subsidiaries of UKF (Holdings) Limited) having been obtained and remaining valid and effective and having not been revoked by the Securities and Futures Commission of Hong Kong, The Stock Exchange of Hong Kong Limited and the Executive Director of the corporate finance division of the Securities and Futures Commission of Hong Kong or any delegate of the Executive Director advising that they have no further comments on the joint announcement to be released in connection with the transactions contemplated under the agreement and Wong Chun Chau and Kwok Yin Ning representations and warranties under the agreement remaining true, accurate and not misleading in all respects as of the completion date by reference to the facts and circumstances subsisting as at the completion date. The conditions shall be satisfied on or before 5 p.m. on July 31, 2018. The transaction is expected to be completed on the third business day after the date on which all conditions is satisfied or where applicable waived. BaoQiao Partners Capital Limited acted as financial advisor to UKF (Holdings) Limited. Chen Jiarong completed the acquisition of an additional 15.87% stake in UKF (Holdings) Limited (SEHK:1468) from Wong Chun Chau and Kwok Yin Ning on July 18, 2018. All conditions precedent of the agreement has been fulfilled.