Benjamin Solomon Tan entered into a conditional sale and purchase agreement to acquire remaining 60% stake in AutoInc EuroSports Pte. Ltd from Eurosports Global Limited (Catalist:5G1) for SGD 1.4 million on October 18, 2018. Under the terms of the transaction, Benjamin Solomon Tan will acquire 0.09 million shares of AutoInc EuroSports and loans of SGD 0.53 million owing by AutoInc EuroSports to Eurosports Global Limited and loans of SGD 0.89 million owing by AutoInc EuroSports to EuroSports Auto Pte Ltd. The consideration will be paid in installments, SGD 0.05 million will be paid on completion, SGD 0.25 million will be paid on or before November 30, 2018, 10 installments of SGD 0.1 million each will be paid every six months starting from May 31, 2019 till November 30, 2023, the last installment of SGD 0.11 million will be paid on May 31, 2024. The transaction is conditional upon all material approvals, consents, licenses, permits, waivers and exemptions, including but not limited to approval from Singapore Exchange Securities Trading Limited and/or Eurosports Global Limited shareholders (if required). The conditions should be satisfied on or before the date following three months from the date of this agreement or such other period as the parties may agree in writing. Completion shall take place on or before 7 days of fulfillment of all conditions. The proceeds from the transaction will be used to fund the working capital requirements of Eurosports Global Limited Group.