Hao Tian Development Group Limited (SEHK:474) made an offer to acquire 25% stake in Clear Lift Holdings Limited (SEHK:1341) for approximately HKD 200 million on January 16, 2017. Hao Tian Development Group Limited will acquire 250 million shares of Clear Lift Holdings at an offer per share of HKD 0.79. Hao Tian Development Group Limited intends to finance the consideration payable by internal resources and the Facilities. In a related transaction, Hao Tian Development Group Limited entered into the share and purchase agreement to acquire 75% stake in Clear Lift Holdings Limited from Tang J F T Company Limited for approximately HKD 590 million on January 16, 2017. The independent Board committee, which comprises all the independent non-executive Directors, namely Kwong Ping Man, Chu Wai Wa Fangus and Yeung Ho Ming, has been established to make a recommendation to the independent shareholders in relation to the share offer as to whether the terms of the share offer are fair and reasonable and as to the acceptance of the share offer.

Haitong International Securities Company Limited acted as financial advisor for Hao Tian Development Group. Karl Thomson Financial Advisory Limited acted as financial advisor to the Board Committee of Clear Lift Holdings Limited. As of February 20, 2017 composite document is dispatched and offer is commenced. The closing date of offer is March 13, 2017.