Lionhub Group Limited (ASX:LHB) agreed to acquire Lian Huat Xuancheng Pte Ltd from Lian Keng Enterprises Pte Ltd for AUD 8.5 million on January 23, 2014. As consideration for the acquisition, LionHub will issue 42.5 million shares at AUD 0.2 per share to Lian Keng. The acquisition is conditional upon approval from Lionhub shareholders.

As on April 17, 2014, the Board of Lionhub Group recommends its shareholders to approve the transaction. Directors of the company recommend that shareholders approve the resolutions contained in this notice of meeting and so enable the acquisition by the Lionhub Group. The deal is subject to all necessary ASX approvals being obtained. On May 15, 2014, shareholders of Lionhub Group Limited approved the deal. RSM Bird Cameron Partners, Investment Banking Arm acted as independent expert for Lionhub Group Limited. RSM Bird Cameron Partners will receive an advisory fee of AUD 0.03 million.