ABC Communications (Holdings) Limited (SEHK:30) entered into a non-legally binding memorandum of understanding to acquire Diamond Peak Inc. from unknown sellers for HKD 700 million on January 17, 2014. The transaction also includes the acquisition of shareholders loan. The transaction is expected to be satisfied by cash and the issue of shares, convertible bonds and/or promissory notes by ABC Communications. The transaction is subject to due diligence review, the obtaining of a technical report on the target mines, the obtaining of a valuation report, and approval of the shareholders of ABC Communications, Stock Exchange and others. The terms of the transaction is subject to further negotiation and the signing of a formal sale and purchase agreement within 90 days after the date of the memorandum.

ABC Communications (Holdings) Limited (SEHK:30) entered into the letter of extensities to extend the expiration of the exclusivity period under the memorandum of understanding to acquire Diamond Peak Inc. As on April 17, 2014, the exclusivity period under the memorandum of understanding has been extended from April 17, 2014 to July 17, 2014. As on July 17, 2014, the exclusivity period under the memorandum of understanding has been expired. The trading of shares of ABC Communications (Holdings) Limited has been halted as of July 10, 2014.