00253.HK announced that on December 10, 2021, the buyer (a subsidiary of the company) entered into a provisional sale and purchase agreement with the seller, under which the buyer agreed to acquire all the issued shares of the target company from the seller; and to sell the debt at a consideration of HK $31 million.

The target company, namely Tendor Limited, is a limited company incorporated in Hong Kong and its main business is property investment. The only asset of the target company is the property and its lease. The property is No. 19, II Moritz Avenue, 33 Kwu Tung Road, Sheung Shui, New Territories, Hong Kong.