Lamtex Holdings Limited (SEHK:1041) entered into a memorandum of understanding to acquire CITIC Merchant Enterprise Management Limited from CITIC Merchant Co., Limited on April 23, 2020. Lamtex Holdings Limited will pay a refundable deposit of HKD 10 million within 21 days upon execution of the MOU. The refundable deposit would be deducted from the total consideration. Lamtex Holdings Limited and CITIC Merchant Co., Limited shall use their endeavours to enter into a formal agreement within 90 days (or such other date as agreed between them) upon execution of the MOU. The completion of the acquisition is subject to due diligence results, shareholders' approval, and other conditions precedent agreed between the companies to be included in the formal agreement. Lamtex Holdings Limited (SEHK:1041) cancelled the acquisition of CITIC Merchant Enterprise Management Limited from CITIC Merchant Co., Limited on April 23, 2021.