Mamezou Holdings Co., Ltd. (TSE:3756) made an offer to acquire an additional 40.08% stake in XYEC Holdings Co., Ltd. (Catalist:5WR) from XYEC Holdings Co., Ltd., Employee Stock Holding Association Naoko Ogiwara, Manabu Kobayashi, Minoru Funakoshi and others for SGD 16.9 million in cash on March 29, 2016. Under the terms of transaction Mamezou will issue SGD 0.3 per share and options of XYEC. Post-acquisition, XYEC will delist from SGX-ST. The transaction is subject to obtain approval from shareholder of XYEC. The offer is subject to compulsory acquisition if Mamezou acquires 90% or more of the voting rights of XYEC and is not conditional upon a minimum number of acceptances being received. On March 29, 2016, The Board of Directors of Xyec Holdings Co., Ltd. approved delisting, based on certain conditions. As of April 25, 2016, XYEC announced that an extraordinary general meeting of shareholders would be held on May 10, 2016. The SGX-ST has advised in its letter dated April 1, 2016 that it has no objection to the Delisting, subject to the shareholders’ approval being obtained. The delisting resolution was duly passed by the shareholders on May 10, 2016. Accordingly, all the delisting resolution approval conditions have been fulfilled and the offer is hereby is declared to be unconditional in all respects. The offer will remain open for acceptance until May 25, 2016. On the date of delisting, shareholders who hold shares that are deposited with the CDP and who did not accept the exit offer should note that the CDP will cease to be the registered holder of such shares and will no longer be recognised as a shareholder of the company after the successful delisting of the company. Shareholders who hold shares entered in their own names on the Japan register will remain as shareholders in the unlisted company. Xyec Holdings entered into a statutory merger agreement in relation to the proposed merger. SAC Capital Private Limited acted as financial advisor for XYEC. RHTLaw Taylor Wessing LLP and Anderson Mori & Tomotsune acted as legal advisor while RHT Corporate Advisory Pte. Ltd. and Mitsubishi UFJ Trust and Banking Corporation acted as transfer agent to XYEC. Shinichiro Suzuki of Ernst & Young ShinNihon LLC acted as accountant to XYEC. Mamezou Holdings Co., Ltd. (TSE:3756) completed the acquisition of an additional 12.06% stake in XYEC Holdings Co., Ltd. (Catalist:5WR) for SGD 3.8 million on May 25, 2016. Mamezou Holdings acquired 12.8 million shares of XYEC Holdings in the offer.