Fu Liping acquired additional 30% stake in Eastation Gallery (HK) Limited from Ascent International Holdings Limited (SEHK:264) for HKD 18 million on August 17, 2018. HKD 10 million will be paid on closing and the remaining HKD 8 million will be paid within 10 business days after closing. Fu Liping will increase his stake from 20% to 50% as part of the deal while Ascent International Holdings will hold no stake in Eastation Gallery after the deal. Deal is subject to all necessary consents, approvals, licenses and authorization required to be obtained by both the parties. In the event that any of the above conditions has not been satisfied by the date of completion or has not been waived by the buyer in writing, the sale and purchase agreement will terminate with immediate effect. Ascent International Holdings will record a net book gain of approximately HKD 0.12 million from the deal. It is expected that the net proceeds from the disposal will be used for general working capital. Fu Liping completed the acquisition of additional 30% stake in Eastation Gallery (HK) Limited from Ascent International Holdings Limited (SEHK:264) on August 17, 2018.