City Green Build Technology Pte. Ltd. made an offer to acquire remaining 54.12% stake in Youyue International Limited (SGX:Y06) for SGD 3.2 million on November 18, 2013. On November 18, 2013, City Green Build Technology Pte. Ltd. agreed to acquire 45.88% stake in Youyue International Limited from China Invest Trading Limited, Wu Jianguo and Great Star Industry Company Limited pursuant to a married deal. The offer will be conditional on City Green Build Technology 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 City Green Build Technology and persons acting in concert with it, will result in City Green Build Technology and persons acting in concert with it holding such number of shares carrying more than 50% of the total voting rights attributable to the shares as at the close of the offer.

Certain shareholders gave irrevocable undertakings of 20.83% stake in Youyue International Limited. The aggregate number of shares under irrevocable undertakings is 49.74 million shares, representing approximately 20.83% of the total issued shares. In the event, City Green Build Technology receives valid acceptances pursuant to the offer in respect of not less than 90% of the total number of issued Shares, City Green Build Technology would be entitled to exercise the right to compulsorily acquire all the offer shares of the shareholders who have not accepted the offer at a price equal to the offer price. The offer will close on January 2, 2014.

As of December 17, 2013, City Green Build Technology received valid acceptances of the offer in respect of 13.62 million offer shares which, when taken together with the shares owned, controlled or agreed to be acquired by City Green Build Technology and the parties acting in concert with it (either before or during the offer and pursuant to the offer or otherwise), result in City Green Build Technology and the parties acting in concert with it holding such number of Shares carrying more than 50% of the voting rights attributable to the maximum potential issued share capital of Youyue International Limited. Accordingly, City Green Build Technology wishes to announce that the offer has become and is hereby declared to be unconditional as to acceptances in all respects.

The Bank of Communications Co., Ltd. confirms that sufficient financial resources are available to City Green Build Technology Pte. Ltd. to satisfy full acceptances of the offer. Boardroom Corporate & Advisory Services Pte. Ltd. acted as registrar for City Green Build Technology Pte. Ltd. Provenance Capital Pte. Ltd. and Bank of Communications Co., Ltd. (SEHK:3328) acted as financial advisor for Youyue International Limited.

City Green Build Technology Pte. Ltd. completed the acquisition of 28.07% stake in Youyue International Limited (SGX:Y06) for SGD 1.68 million on January 2, 2014. A total of 67.04 million shares were tendered in the offer.