Tech Pro Technology Development Limited (SEHK:3823) entered into a non-legally binding Letter of Intent to acquire Football Club Sochaux-Montbeliard SA from Automobiles Peugeot for €7 million in cash on February 17, 2015. Under the terms of the agreement, Tech Pro Technology Development Limited will acquire 0.25 million shares. The consideration is payable in cash on completion of the transaction. As of year ended June 30, 2014, Football Club Sochaux-Montbeliard reported turnover of €24.94 million, net loss after taxation of €13.19 million and operating loss of €13.22 million. The unaudited net assets of football Club Sochaux-Montbeliard as at December 31, 2014 was approximately €20.19 million. Upon completion, Denis Worbe, who is currently the head of financial and bank relationships of Automobiles PEUGEOT SAS will not remain with Football Club Sochaux-Montbeliard SA, Football Club Sochaux-Montbeliard SA intends to retain all the senior management teams of Football Club Sochaux-Montbeliard to manage the operation and business. As a part of transaction, Tech Pro will conduct a due diligence review on the accounting, legal and tax aspects. The transaction is subject to Tech Pro Technology Development Limited's shareholder approval, the resignation of the President and all the board members of Football Club Sochaux-Montbeliard, the completion of the Transitional Services Agreement, the execution and completion of the formal agreement, French legal opinion issued by legal advisor acceptable covering such matters which are relevant and all other necessary consents, licences and approvals required and expected to close by June 30, 2015.

Tech Pro Technology Development Limited (SEHK:3823) entered into acquisition agreement to acquire Football Club Sochaux-Montbeliard SA from Automobiles Peugeot on May 18, 2015. The consideration will be funded by the internal resources. As on April 7, 2015, the acquisition is expected to close in May 2015. The meeting of the shareholders of Tech Pro is scheduled on June 30, 2015. Eric-Jean Thomas and Emma Bensoussan-Cremieux of Thomas Mayer & Associes acted as legal advisor for Tech Pro Technology Development Limited. Emmanuel Picard, Renaud Regner and Ruben David of Ernst & Young France acted as an accountant to Tech Pro Technology Development Limited. Caroline Basdevant-Soulié, Claire-Marie Toupé and Jean-Luc Marchand of Latournerie Wolfrom & Associes acted as legal advisors for Automobiles PEUGEOT SAS. Michael Li, Victor Kwong and Daniel Chan of Michael Li & Co acted as legal advisors for Tech Pro Technology Development Limited.

Tech Pro Technology Development Limited (SEHK:3823) completed the acquisition of Football Club Sochaux-Montbeliard SA from Automobiles Peugeot on July 6, 2015.