Kin Chan, V Nee Yeh, Yick Yee Angie Li and Viroj Tangjetanaporn made an offer to acquire the remaining 46.52% stake in Nation International Edutainment Public Company Limited (SET:NINE) from Nation Multimedia Group Public Company Limited (SET:NMG) and others for approximately THB 240 million on December 12, 2018. Under the terms, Kin Chan, V Nee Yeh, Yick Yee Angie Li and Viroj Tangjetanaporn will acquire 170.05 million shares at THB 1.4 per share wherein Kin Chan, V Nee Yeh, Yick Yee Angie Li will acquire a maximum of 3.2 million shares and Viroj Tangjetanaporn will acquire the remaining tendered shares. As of December 12, 2018, Kin Chan, V Nee Yeh and Yick Yee Angie Li hold 175.95 million shares (48.13%) and Viroj Tangjetanaporn holds 19.55 million shares (5.35%) of Nation International Edutainment Public Company Limited. The shareholders tendering their shares will be subject to a brokerage fee of 0.25% of the offer price. The offer price is subject to adjustment.

In a related transaction, the offerors will subscribe to 195.5 million new shares of Nation International Edutainment Public Company Limited on November 27, 2018. To fund the purchase price, Viroj Tangjetanaporn will use cash deposits in his banking account with United Overseas Bank (Thai) Public Company Limited and allocate partial of such cash to pay on behalf of Kin Chan, V Nee Yeh and Yick Yee Angie Li. Kin Chan, V Nee Yeh and Yick Yee Angie Li will pay back to Viroj Tangjetanaporn subsequently. United Overseas Bank (Thai) Public Company Limited issued a confirmation letter that Viroj Tangjetanaporn had approximately THB 290 million in his bank account which covered the total amount required under the offer. Avantgarde Capital Company Limited is of the view that the transaction is fair and reasonable and shareholders accept the tender offer.

The offerors will not delist Nation International Edutainment Public Company Limited during 12 months period after the end of the offer period. The offer will run from December 13, 2018 to January 18, 2019. Sriporn Sudthipongse of IV Global Securities Public Company Limited acted as a financial advisor, tender offer preparer and tender offer agent and The Capital Law Office Limited acted as legal advisor for Kin Chan, V Nee Yeh, Yick Yee Angie Li and Viroj Tangjetanaporn. Avantgarde Capital Company Limited appointed as financial advisor to Nation International Edutainment Public Company Limited. The Capital Law Office Limited appointed as share transfer agent. Avantgarde Capital Company Limited is of the view that the transaction is fair and reasonable and shareholders accept the tender offer.

Kin Chan, V Nee Yeh, Yick Yee Angie Li and Viroj Tangjetanaporn cancelled the acquisition of 46.52% stake in Nation International Edutainment Public Company Limited (SET:NINE) from Nation Multimedia Group Public Company Limited (SET:NMG) on January 18, 2019. No shares were tendered during the tender offer period.