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On 5 July 2013, eSun Holdings entered into the Agreement 85% of the shares of KIGHL Group for a total consideration of HK$212.5 million. Upon Completion, KIGHL will become 85% owned by eSun Holdings and 15% owned by LHL.
The KIGHL Group is engaged in the sale and distribution of films, DVDs, Blu-ray discs, video games, as well as operating cinemas in Hong Kong and the PRC.
As one of the applicable Percentage Ratios for the Proposed Acquisition exceeds 25% but is less than 100%, the Proposed Acquisition constitutes a major transaction for the Company under Chapter 14 of the Listing Rules and is therefore subject to the notification, publication and shareholders’ approval requirements as set out in Chapter 14 of the Listing Rules.
A circular containing, among other things, further details of the Proposed Acquisition and the notice convening the SGM to approve the Proposed Acquisition, will be despatched to the Shareholders on or before 25 July 2013.