Eden Publishing Pte. Ltd entered into a sale and purchase agreement to acquire 18% stake in Activa Media Holdings Limited from AM Group Holdings Limited (SEHK:1849) for SGD 2.3 million on April 20, 2021. Pursuant to the terms of the agreement, Eden Publishing Pte. Ltd will acquire 18 shares in Activa Media Holdings Limited and the consideration payable for the sale and purchase of the sale shares shall be settled in two instalments: (1) 10% of the consideration (in an amount equivalent to SGD 0.23 million) shall be paid by Eden Publishing Pte. Ltd in cash or by bank transfer upon signing of the sale and purchase agreement as non-refundable deposit; and (2) the remaining 90% of the consideration (in an amount equivalent to SGD 2.07 million) shall be paid by Eden Publishing Pte. Ltd in cash or by bank transfer upon completion. Upon completion, AM Group Holdings Limited will cease to own the sale shares, but Activa Media Holdings Limited and other members of the target group will remain as non-wholly owned subsidiaries of AM Group Holdings Limited. As at December 31, 2020, Activa Media Holdings Limited had total assets of SGD 30.57 million. Completion of the transaction shall be conditional upon and subject to approval of Board of Directors of Activa and Eden Publishing Pte. Ltd. The net proceeds from the disposal of approximately SGD 2.2 million will be used for general working capital purpose of AM Group Holdings Limited. Eden Publishing Pte. Ltd completed the acquisition of 18% stake in Activa Media Holdings Limited from AM Group Holdings Limited (SEHK:1849) on May 4, 2021.