OSIM International : Voluntary Unconditional Cash Offer By Vision Three Pte. Ltd. - Completion Of Compulsory Acquisition

VOLUNTARY UNCONDITIONAL CASH OFFER

by

CREDIT SUISSE (SINGAPORE) LIMITED

(Incorporated in the Republic of Singapore) (Company Registration No.: 197702363D)

for and on behalf of

VISION THREE PTE. LTD.

(Incorporated in the Republic of Singapore) (Company Registration No.: 201605240G)

for all the issued ordinary shares in the capital of

OSIM INTERNATIONAL LTD

(Incorporated in the Republic of Singapore) (Company Registration No.: 198304191N)

other than those held in treasury and those already owned, controlled or agreed to be acquired by Vision Three Pte. Ltd. and all of the outstanding S$170,000,000 Zero Coupon Convertible Bonds due 2019

(ISIN No.: XS1103850993, Common Code: 110385099)

issued by OSIM International Ltd

COMPLETION OF COMPULSORY ACQUISITION

1. INTRODUCTION

   Reference is made to:

2. the voluntary unconditional cash offer (the "Offer") by Vision Three Pte. Ltd. (the "Offeror"), for all the issued ordinary shares ("Shares") in the capital of OSIM International Ltd (the "Company", and together with its subsidiaries, the "Group"), other than those held in treasury and those already owned, controlled or agreed to be acquired by the Offeror as at the date of the Offer, at a price of S$1.32 in cash per Offer Share ("Offer Price") announced on 7 March 2016 ("Offer Announcement Date");

3. the offer document dated 23 March 2016 (the "Offer Document") in relation to the Offer for Securities;

4. the announcement dated 5 April 2016 in relation to the revision of the Offer Price and the extension of the Closing Date for the Offer for Securities;

5. the announcement dated 8 April 2016 (the "Final Ex-Dividend Offer Price Announcement") in relation to, amongst others, the Final Ex-Dividend Offer Price and extension of the Closing Date for the Offer for Securities;

6. the announcement dated 18 April 2016 (the "Additional Payment Announcement") in relation to the Additional Payment to Shareholders who sold their Shares on 5 April 2016;

7. the announcement dated 21 April 2016 (the "Updated Acceptance Forms Announcement") in relation to the updating of the relevant FAA and FAT;

8. the announcement dated 29 April 2016 in relation to the extension of the Closing Date for the Offer for Securities;

9. the announcement dated 12 May 2016 extending the Closing Date to 5:30 p.m. (Singapore time) on 20 May 2016 (the "Final Closing Date Announcement");

10. the announcement dated 20 May 2016 in relation to the Offeror having received valid acceptances of the Offer and having acquired Offer Shares during the Offer period which resulted in the Offeror holding more than 90% of the Offer Shares (the "Close of the Offer Announcement"); and

11. the announcement dated 26 May 2016 in relation to the despatch of notices pursuant to Section 215(1) and Section 215(3) of the Companies Act (the "Compulsory Acquisition Announcement").

    Unless otherwise defined, capitalised terms in this Announcement have the same meaning as defined in the Offer Document, the Final Ex-Dividend Offer Price Announcement, the Additional Payment Announcement, the Updated Acceptance Forms Announcement, the Final Closing Date Announcement, the Close of the Offer Announcement and the Compulsory Acquisition Announcement.

12. COMPLETION OF COMPULSORY ACQUISITION UNDER SECTION 215(1) OF THE COMPANIES ACT

    Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Offeror has completed the compulsory acquisition pursuant to Section 215(1) of the Companies Act. As at the date of this Announcement, the transfer of all Shares of the Non-Assenting Shareholders to the Offeror has been effected and where relevant, payment for such Shares has been despatched.

    Following the completion of the compulsory acquisition, the Company has become a wholly-owned subsidiary of the Offeror and will be delisted from the SGX-ST. The date and time of the delisting of the Company from the SGX-ST is expected to be announced by the Company in due course.

13. RESPONSIBILITY STATEMENT

The director of the Offeror (notwithstanding that he may have delegated detailed supervision of this Announcement (as relevant)) has taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, the omission of which would make any statement in this Announcement misleading.

Where any information has been extracted or reproduced from published or otherwise publicly available sources (including, without limitation, information in relation to the Company or the Group), the sole responsibility of the Offeror's director has been to ensure through reasonable enquiries that such information is accurately and correctly extracted from such sources or, as the case may be, reflected or reproduced in this Announcement in its proper form and context.

Issued by

CREDIT SUISSE (SINGAPORE) LIMITED

For and on behalf of

VISION THREE PTE. LTD.

23 August 2016

Any enquiries relating to this Announcement or the Offer should be directed to the following:

Credit Suisse (Singapore) Limited Tel: [phone]

Forward-Looking Statements

All statements other than statements of historical facts included in this announcement are or may be forward-looking statements. Forward-looking statements include but are not limited to those using words such as "seek", "expect", "anticipate", "estimate", "believe", "intend", "project", "plan", "strategy", "forecast" and similar expressions or future or conditional verbs such as "will", "would", "should", "could", "may" and "might". These statements reflect the current expectations, beliefs, hopes, intentions or strategies of the party making the statements regarding the future and assumptions in light of currently available information. Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results may differ materially from those described in such forward-looking statements. Shareholders and investors of the Company and/or any other person should not place undue reliance on such forward-looking statements, and neither the Offeror nor Credit Suisse undertakes any obligation to update publicly or revise any forward-looking statements.