Law Yu Chui, Finance and Administrative Director of Cheung Woh Technologies Ltd, Lee Hang Ngok, Law Tak Lun and Christopher Law Tak Heem intends to make a voluntary conditional offer to acquire an additional 21.29% stake in Cheung Woh Technologies Ltd (SGX:C50) for SGD 17.9 million on May 6, 2021. Under the transaction, Offerors together will acquire 62.8 million shares of Cheung Woh Technologies. The consideration for the offer will be at the election of the shareholders of Cheung Woh Technologies. Shareholders can either elect to receive SGD 0.285 in cash for each offer share ("Cash Consideration"); OR in lieu of the cash consideration, one new ordinary share in the capital of the offeror for each offer share ("New Offeror Shares Consideration"). The issue price for each new offeror share pursuant to the new offeror shares consideration is SGD 0.285. Shareholders who accept the offer may elect to receive the cash consideration or the new offeror shares consideration, and not a combination thereof. Maybank Kim Eng Securities Pte. Ltd. confirms that sufficient financial resources are available to the offeror to satisfy full acceptance of the offer. The offeror shares (including the new offeror shares) are not and will not be listed on any securities exchange. The offerors intends to make the offer with a view to delisting and privatizing Cheung Woh Technologies Ltd. The Offer will be conditional upon the offerors having received, by the close of the Offer, valid acceptances in respect of such number of offer shares which, when taken together with the Shares owned, controlled or agreed to be acquired by the offeror and its concert parties, will result in the offerors and its concert parties holds not less than 90% of all issued Shares in Cheung Woh Technologies as at the closing date of the offer. In such event, the Offerors intends to exercise its right to compulsorily acquire all the offer shares not acquired under the offer at the Cash Consideration of SGD 0.285 per share in cash. The Independent Directors of Cheung Woh Technologies Ltd recommended the shareholders to accept the offer. The offer is unconditional in all other respects. As of June 14, 2021, offeror has received valid acceptances in respect of 265.9 million shares amounting to 90.14% stake in Cheung Woh Technologies Ltd. As of June 14, 2021, offer was declared unconditional. As on June 23, 2021, the offerors intended to exercise theor right of compulsory acquisition. The offer is valid till June 22, 2021. As of June 14, 2021, the offer will close on July 6, 2021. As of July 2, 2021, SGX-ST has approved the request for delisting of Cheung Woh Technologies Ltd. Maybank Kim Eng Securities Pte. Ltd. acted as financial advisor to the Offerors. Mark Liew and Wong Wei Fong of PrimePartners Corporate Finance Pte. Ltd. acted as financial advisors, M & C Services Private Limited acted as registrar and Ernst & Young LLP acted as the auditor to Cheung Woh Technologies. Danny Lim and Cheryl Tay of Rajah & Tann LLP acted as the legal advisors to offerors. Law Yu Chui, Finance and Administrative Director of Cheung Woh Technologies Ltd, Lee Hang Ngok, Law Tak Lun and Christopher Law Tak Heem completed the acquisition of remaining 5.76% minority stake in Cheung Woh Technologies Ltd (SGX:C50) for SGD 4.8 million on July 6, 2021. After completion, offerors held 97.12% stake in Cheung Woh Technologies. Upon effectiveness of the compulsory acquisition on August 2, 2021, Cheung Woh Technologies became wholly owned by the offerors.