Lim Yong Guan, Lim Yong Sheng and Lim Liang Eng (Offeror) made an offer to acquire remaining 17.4% stake in SK Jewellery Group Limited (Catalist:42G) for SGD 14.7 million on September 2, 2020. The cash offer price is SGD 0.15 per Share. The Offeror is making the Offer with a view to delisting and privatizing SK Jewellery Group Limited. DBS Bank Ltd., confirms that sufficient financial resources are available to the Offeror to satisfy full acceptance of the Offer. The Offeror will be obtaining financing from DBS for the purpose of the Offer. The Offeror intends for SK Jewellery Group Limited to continue to develop and grow the existing businesses of SK Jewellery Group Limited and its subsidiaries. Other than in the ordinary and usual course of business and/or in response to the changing market conditions, the Offeror has no current intentions to introduce any major changes to the existing business, re-deploy its fixed assets, nor discontinue the employment of the existing employees of SK Jewellery Group Limited or its subsidiaries. The Offer is conditional upon the Offeror and parties acting in concert with it achieving shareholding of not less than 90% of the Shares as at the close of the Offer. Offeror should meet the Minimum Acceptance Condition, the Offeror intends to exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer at a price equal to the Offer Price. The Offer will remain open for acceptances for a period of at least 28 days from the date of posting of the offer document. On September 8, 2020, the Offeror has received the Initial Irrevocable Undertakings and the Additional Irrevocable Undertakings from the Undertaking Shareholders representing 90.3% of shares issued. On September 25, 2020, the Offeror has received the 93.4% of valid acceptances. Based on this, minimum acceptance condition has been satisfied and the offer has become unconditional. As on October 2, 2020, the board of SK Jewellery Group Limited recommend the shareholders to approve the transaction. The offer will close on October 16, 2020. DBS Bank Ltd. is acting as sole financial advisor to the Offeror in relation to the Offer. B.A.C.S. Private Limited acted as registrar and The Central Depository (Pte) Limited acted as depository for SK Jewellery. Hong Leong Finance Limited (SGX:S41) acted as financial advisor for Independent Directors of SK Jewellery. RSM Chio Lim acted as accountant to SK Jewellery. Lim Yong Guan, Lim Yong Sheng and Lim Liang Eng (Offeror) completed the acquisition of the remaining 17.4% stake in SK Jewellery Group Limited (Catalist:42G) for on October 14, 2020. The offer received valid acceptances of 71.1 million shares and the remaining shares will be acquired through a compulsory acquisition at SGD 0.15 per share. As of October 23, 2020, Offeror will exercise its right of compulsory acquisition to acquire all the shares held by dissenting shareholders on or after November 24, 2020. As on November 13, 2020, SGX-ST granted approval for delisting of SK Jewellery Group Limited from an exchange and also granted waiver on conditions as required under Rule 106 of the Catalist Rules. Lim Yong Guan, Lim Yong Sheng and Lim Liang Eng exercised right of compulsory acquisition of SGD 0.15 in cash for each Share, on the same terms as those offered under the Offer. The delisting from official List at the SGX-ST will be announced in due course. On December 1, 2020, compulsory acquisition has been completed. Transfer of the shares of the dissenting shareholders to the offeror has been effected and payment for such shares has been despatched or credited to the dissenting shareholders. SK Jewellery Group Limited will be delisted from the Official List of the SGX-ST with effect from 9.00 a.m. on December 2, 2020.