Toh Kok Soon, Ong Swee Sin, Tan Chiau Wei, Ng Boon Chee and Lim Jun Hao offered to acquire remaining 13% stake in Viking Offshore and Marine Limited for SGD 1 million on November 18, 2021. Offerors will pay SGD 0.01 per share in cash. There is currently no intention to (a) introduce any major changes to the existing businesses of Viking Offshore and Marine, (b) re-deploy the fixed assets or (c) discontinue the employment of Viking Offshore and Marine, other than in the ordinary course of business. It is the current intention of the Joint Offerors to maintain the listing status of the Viking on the SGX-ST following completion of the Offer. The Offer is unconditional in all respects. If the Joint Offerors receive valid acceptances pursuant to the Offer and/or acquires such number of Offer Shares at the close of the Offer in respect of not less than 90% of the total number of issued Shares, the Joint Offerors will be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer on the same terms as those offered under the Offer.

Acceptances of the Offer must be received by the close of the Offer on January 3, 2022. UOB Kay Hian Private Limited acted as financial advisor to Toh Kok Soon, Ong Swee Sin, Tan Chiau Wei, Ng Boon Chee and Lim Jun Hao. M & C Services Private Limited acted as registrar to Viking Offshore and Marine Limited. Xandar Capital Pte. Ltd. acted as financial advisor and Messrs Lee & Lee acted as legal advisor to Viking Offshore and Marine in the deal.