Arion Entertainment Singapore Limited (Catalist:YYB) acquired Bacui Elitist Technology Limited from Yang Ran SGD 1.1 million on March 29, 2023. The consideration shall be satisfied by way of the allotment and issuance of 155,555,555 new ordinary shares of Arion Entertainment Singapore. The completion will be conditional upon the satisfaction or waiver (in accordance with the terms and conditions of the SPA) of, conditions precedent set out in the SPA. The following are summaries of the key Conditions Precedent: Satisfactory due diligence on the Target Group, Approval from the Board and Regulatory Approval from stock exchange to list consideration shares on the Catalist board of the SGX-ST. The approval of the shareholders of Arion Entertainment Singapore Limited is not required. The approval from the Board in relation to the Acquisition having been obtained. The approval-in-principle of SGX-ST being obtained in relation to the listing and quotation of the Consideration Shares on the Catalist board of the SGX-ST. The Completion will take place within 7 business days after the date of the satisfaction or waiver of the last Conditions Precedent. The transaction is expected to complete no later than September 30, 2023. As of April 17, 2023, Arion Entertainment Singapore has received the listing and quotation notice (the “Notice”) from the SGX-ST for the listing and quotation of 155,555,555 Consideration Shares, subject to compliance with the listing requirements of the SGX-ST. The number of ordinary shares in the capital of Arion Entertainment has increased from 933,951,593 Shares to 1,089,507,148 Shares, following the allotment and issuance of 155,555,555 new Shares as Consideration Shares to the Vendor, Xinlong Investment Holding Limited, pursuant to the SPA. The Consideration Shares are expected to be listed and quoted on the Catalist Board of the SGX-ST and trading of consideration shares will commence on or about April 20, 2023. As of June 20, 2023, Bacui Elitist Technology have fulfilled the financial conditions as set out in the share purchase agreement.

Arion Entertainment Singapore Limited (Catalist:YYB) completed the acquisition of Bacui Elitist Technology Limited on March 29, 2023.