China Tian Yuan Manganese Limited agreed to make a mandatory tender offer to acquire remaining 30.82% stake in China Kangda Food Company Limited (SGX:P74) for approximately HKD 180 million on April 21, 2017. Under the terms of the transaction, China Tian Yuan Manganese will acquire 133.4 million shares at HKD 1.34 per share. The transaction is subject to completion of the share purchase agreement of 69.18% stake in China Kangda Food Company. The transaction will be financed through loan of HKD 178.8 million by Prudential Brokerage. An Independent Board Committee, comprising all independent non-executive Directors, will be established for the offer. As of May 4, 2017, the share purchase agreement was completed. Offer will be closed on June 16, 2017. The Independent Board Committee, comprising of all independent non-executive Directors, namely Chong Soo Hoon, Sean, Lau Choon Hoong and Yu Chung Leung, has been formed to advise the Independent Shareholders in respect of the Offer. Veda Capital acted as financial advisor to China Tian Yuan Manganese. TC Capital International Limited acted as financial advisor to China Kangda Food Company. TC Capital International Limited has been appointed to advise the Independent Board Independent whether the terms of the Offer are fair and reasonable. Crescendo Capital Limited and Prudential Brokerage Limited acted as financial advisor for China Tian Yuan Manganese Limited. China Tian Yuan Manganese Limited completed the acquisition of additional 0.3% stake in China Kangda Food Company Limited (SGX:P74) for HKD 1.6 million on June 16, 2017. As on June 16, 2017, China Tian Yuan Manganese Limited received acceptance of 1.2 million shares of China Kangda Food Company Limited (SGX:P74) through tender offer.