Huang Liming made a conditional mandatory offer to acquire remaining 69.89% stake in Kong Shum Union Property Management (Holding) Limited (SEHK:8181) for approximately HKD 230 million on January 4, 2018. The consideration will be paid in cash. Under the terms of the offer, HKD 0.38 will be offered for each share and HKD 0.01 will be offered for each option of Kong Shum Union Property Management (Holding) Limited. Consideration will be paid as soon as possible but in any event within seven business days following the later of the date on which the offer becomes, or is declared unconditional or the date on which the duly completed acceptance of the offer and the relevant documents of title of the offer shares or the share options (as the case may be) in respect of such acceptance are received. Prior to offer, Huang Liming owns 30.11% stake in Kong Shum Union Property Management (Holding) Limited. The offer will be financed by a loan facility provided by Kingston Securities Limited. Huang Liming intends to continue the principal business of Kong Shum Union Property Management (Holding) Limited and maintain the listing of the shares on the stock exchange after the closing date. The offer is subject to minimum tender of 50% shares of Kong Shum Union Property Management (Holding) Limited and approval of shareholders of Kong Shum Union Property Management (Holding) Limited. The option offer is conditional upon the share offer becoming or being declared unconditional in all respects. As the condition set out in the composite document has been satisfied, the offers have become unconditional in all respects on February 8, 2018. An independent Board committee comprising all the independent non-executive Directors, will be established by Kong Shum Union Property Management (Holding) Limited to advise the independent shareholders and the option holders in respect of the offer. An independent financial adviser will be appointed to advise the independent Board committee. The offer will close on February 28, 2018. As per announcement of February 8, 2018, the offer will remain open until February 22, 2018. Euto Capital Partners advised the independent Board committee appointed by Kong Shum Union Property Management (Holding) Limited in the transaction. Guotai Junan Capital Limited acted as financial advisor to Kong Shum Union Property Management (Holding) Limited. Kingston Corporate Finance Limited acted as financial advisor to Huang Liming.