According to the Zhitong Finance App, Lotto Entertainment (08198) and the offeror 500.com Limited (WBAI.US) jointly announced that all the prerequisites for completion of the acquisition contained in the purchase agreement have been met, and that the acquisition was completed on March 31, 2021; and all the prerequisites for completion of the subscription stated in the subscription agreement have been fulfilled; and the subscription was completed on March 31, 2021.

After the acquisition is completed, the target company (Ganzi Changhe Hydropower Consumption Service Co., Ltd.) became an indirect wholly-owned subsidiary of the Company, and its financial performance, assets and liabilities will continue to be consolidated in the Group's consolidated financial statements.

According to the subscription agreement, the Company has distributed and issued HK$0.62 per subscribed share at the subscription price, and the subscribers (that is, the Offeror) have also subscribed for a total of 169 million subscribed shares, with a total cash cost of HK$105 million. Subscribed shares accounted for about 44.7% of the total number of shares issued immediately before the subscription was completed; and the total number of issued shares after the allocation and expansion of the issued subscription shares was about 30.9%.

After the subscription was completed and on the date of this joint announcement, the offeror and those acting in concert (including Luo Wenxin, Zhang Jing, Huang Lilan, Yuan Qiang and Yan Hao) held interests in a total of 298 million shares, accounting for about 54.26% of the company's expanded issued share capital.