Swing Media Technology Group Limited entered into a non-binding memorandum of understanding to acquire Grace Health Group Limited from Victor Global Limited.

Swing Media Technology Group Limited (SGX:BEV) entered into a non-binding memorandum of understanding to acquire Grace Health Group Limited from Victor Global Limited on August 19, 2016. The memorandum of understanding is valid for 8 months. As on February 20, 2017 the Board of Directors of Swing Media Technology Group Limited clarify the effect of acquisition on the company's net total assets per share attributable to shareholders is HKD 27.37 before the acquisition, HKD 21.23 after the acquisition and HKD 12.30 after the completion of acquisition and issuance of new shares and conversion of convertible bonds.