National Electronics Holdings Limited (SEHK:213) entered into the sale and purchase agreement to acquire Speedy Tactic Limited from Lee Sammy Sean, Wong Po Wah, Cynthia and Lee Matthew Tsun Ting for approximately HKD 130 million on September 17, 2021. Consideration includes acquisition of one share and loan owed by Speedy Tactic to the vendors. HKD 13.2558 million will be paid upon signing of an agreement and remaining HKD 119.3022 million will be paid upon Completion. National Electronics Holdings Limited intends to finance the Acquisition by bank financing and internal resources. Speedy Tactic reported revenue of HKD 2.16 million, net profit before tax of HKD 21.445 million and net profit after tax of HKD 21.207 million for the year ended March 31, 2021. Speedy Tactic reported total assets of HKD 151.941 million and net assets of HKD 16.976 million for the year ended July 31, 2021. Transaction is conditional upon the satisfaction of the conditions mentioned in the agreement. Subject to fulfillment of the conditions precedent, Completion shall take place on or before October 26, 2021.

National Electronics Holdings Limited (SEHK:213) completed the acquisition of Speedy Tactic Limited from Lee Sammy Sean, Wong Po Wah, Cynthia and Lee Matthew Tsun Ting on October 29, 2021.