Hsu Hung Chun and Hsu Cheng Chien made an offer to acquire the remaining 61.8% stake in Huan Hsin Holdings Ltd (SGX:H16) for SGD 4 million on April 29, 2020. Under the term, Hsu Hung Chun will pay SGD 0.016 per share of Huan Hsin Holdings Ltd. The exit offer will remain open for acceptance by shareholders for a period of 28 days after the date of dispatch of this exit offer letter by the offeror to the shareholders. If the minimum acceptance condition is not fulfilled, Huan Hsin Holdings Ltd will still be mandatorily delisted from the official List of the SGX-ST. The transaction is subject to minimum tender of 50% share of Huan Hsin Holdings Ltd. and the approval of Securities Industry Council. As of June 8, 2020, the minimum acceptance condition has been satisfied and offer has become unconditional. As of June 10, 2020, the total number of shares owned, controlled or agreed to be acquired by the Hsu Hung Chun and Hsu Cheng Chien and the concert parties, and valid acceptances of the exit offer, amount to an aggregate of 362.19 million shares, representing approximately 90.55% of the total number of shares of Huan Hsin Holdings. Accordingly, Hsu Hung Chun and Hsu Cheng Chien intend to exercise the right to compulsorily acquire all the shares not tendered in acceptance of the exit offer. The transaction is expected to close on June 11, 2020. As of June 8, 2020, the offer period has been extended to June 26, 2020. Boardroom Corporate & Advisory Services Pte. Ltd. acted as a registrar and Provenance Capital Pte. Ltd. acted as a financial advisor to independent directors to Huan Hsin Holdings Ltd.