Low Ka Choon Kevin, Low Song Take, Woo Khai Chong and Woo Khai San intend to make a voluntary conditional offer to acquire remaining 13.3% stake in International Press Softcom Limited (Catalist:571) for SGD 4.4 million on January, 28, 2021. Under the terms, seller will elect to receive SGD 0.045 for each share in cash or one new ordinary share in the capital of the Offeror for each share, at an issue price of SGD 0.045. Offeror intends to use compulsory acquisition right and delist International Press Softcom. United Overseas Bank Limited has granted a letter of offer dated January 20, 2021,pursuant to which UOB has extended a six-month bridging loan of SGD 5 million to the Offeror for the purposes of financing the Cash Consideration in the event that the Offer turns unconditional. Transaction is subject to minimum tender of 90% stake being tendered. Save for the minimum acceptance condition, the offer is unconditional in all other respects. The offeror does not intend to revise the offer consideration. As of February 24, 2021, the offeror has received, pursuant to the offer, valid acceptances in respect of 663.830617 million offer Shares, representing approximately 90.68% of the total number of issued shares. The offer has become unconditional as to acceptances, the offer will remain open for acceptance for not less than 14 days after the date on which it would have closed. The Offeror would be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer. Subsequent to such compulsory acquisition, the Offeror will proceed to delist the International Press Softcom Limited from the SGX-ST. Acceptances of the Offer must be received by March 17, 2021 or such later date as may be announced from by or on behalf of the Offeror. As of March 3, 2021, the independent directors recommend the shareholders of International Press Softcom Limited to accept the offer. As on February 24, 2021, transaction is expected to close on March 31, 2021. As of March 5, 2021, Low Ka Choon Kevin, Low Song Take, Woo Khai Chong and Woo Khai San intend to exercise their right of compulsory acquisition to acquire the shares on or after April 6, 2021 as they have reached the 90% stake threshold. UOB Kay Hian Private Limited acted as financial advisor for offerors. Xandar Capital Pte. Ltd acted as financial advisor for International Press Softcom. Low Ka Choon Kevin, Low Song Take, Woo Khai Chong and Woo Khai San completed the acquisition of remaining 13.3% stake in International Press Softcom Limited (Catalist:571) on March 31, 2021. the Offeror has received, pursuant to the Offer, valid acceptances in respect of 709.9 million shares representing approximately 96.99% of the total number of issued Shares. As on April 6, 2021, the Offeror has exercised its right of compulsory acquisition today to acquire the shares of the dissenting shareholders at a consideration of SGD 0.045 in cash for each share.