The MMT also imposed against Choi and the chauffeur, Mr Sit Yuk Yin, cold shoulder orders for 16 months, cease and desist orders and an order to pay the costs and expenses incurred by the government and the SFC (Notes 4 to 6). On 22 September 2016, Dan Form, Tian An and a wholly owned subsidiary of Tian An, Autobest Holdings Limited (Autobest), made a joint announcement, revealing a conditional agreement for Autobest to acquire 36.45% of Dan Form's total issued share capital from Mr Dai Xiaoming, the then chairman, chief executive and executive director of Dan Form, at $2.75 per share. Upon completion of Autobest's acquisition, Autobest would be required to make a mandatory cash offer for all other Dan Form shares in issue at the same price.