Rosedale Hotel Holdings Limited (SEHK:1189) signed a framework agreement to acquire 51% stake in Advance Glow Holdings Limited from Fung Shing and Liang Lian Zhen on December 31, 2014. An exclusivity period of three months after the date of the framework agreement was granted to Rosedale Hotel Holdings, during which Fung and Liang have undertaken that no one shall communicate, negotiate, discuss or enter into any written agreement with any third party in respect of transfer of equity interests in Advance Glow Holdings. Rosedale Hotel Holdings Limited entered into capital commitment to finance further acquisitions by Advance Glow Holdings. The deal is subject to the passing of resolution by the shareholders of Rosedale Hotel Holdings Limited at the special general meeting to approve the formal agreement and the transactions contemplated there under and the Rosedale Hotel Holdings Limited being reasonably satisfied with the results of its due diligence review on Advance Glow Holdings. As of March 31, 2015, Rosedale Hotel Holdings Limited, Fung Shing and Liang Lian Zhen entered into a supplemental framework agreement to extend the exclusivity period to June 30, 2015. Parties entered into the second supplemental framework agreement to further extend the exclusivity period to September 30, 2015. As of September 30, 2015, Rosedale Hotel Holdings Limited, Fung Shing and Liang Lian Zhen entered into a supplemental framework agreement to extend the exclusivity period to December 31, 2015. As of December 30, 2015, Rosedale Hotel Holdings Limited, Fung Shing and Liang Lian Zhen entered into a supplemental framework agreement to extend the exclusivity period to April 29, 2016. As of April 30, 2016, Rosedale Hotel Holdings, Fung Shing and Liang Lian Zhen entered into the fifth supplemental framework agreement to further extend the exclusivity period to December 31, 2016. As on December 29, 2016, the exclusivity period has been further extended to June 30, 2017. As of June 22, 2017 Rosedale Hotel Holdings Limited, Fung Shing and Liang Lian Zhen entered into the seventh supplemental framework agreement to further extend the exclusivity period to December 31, 2017. If the formal agreement is not entered into on or before December 31, 2017, the framework agreement shall lapse with effect from January 1, 2018. Rosedale Hotel Holdings Limited (SEHK:1189) cancelled the acquisition of 51% stake in Advance Glow Holdings Limited from Fung Shing and Liang Lian Zhen on January 2, 2018. As on December 29, 2017, Fung Shing and Liang Lian Zhen had repaid the loan in full to the Rosedale Hotel Holdings Limited.