P&R Holdings Limited made a unconditional mandatory general cash offer to acquire 22.83% stake in Cosmopolitan International Holdings Ltd. (SEHK:120) from Culture Landmark Investment Limited, Alvin Leslie Lam Kwing Wai and other shareholders for approximately HKD 350 million in cash on September 30, 2013. The offer per share will be HKD 0.07 for each Cosmopolitan International share. The Independent Board Committee comprising all the independent non-executive directors of Cosmopolitan has been established by Cosmopolitan to advise the Cosmopolitan shareholders in respect of the offer. Composite document regarding the offer will be issued on or before October 21, 2013. The offer will be open for acceptance from the date when the composite document is dispatched to the offer Cosmopolitan shareholders for a minimum period of 21 days which is December 2, 2013. The transaction will be financed from the funds available from Paliburg and Regal. As of November 11, 2013, the Independent Board Committee recommends the Cosmopolitan shareholders to accept the offer. As announced on November 26, 2013, P&R Holdings do not intend to acquire compulsorily those Cosmopolitan shares not acquired by it under the offer and also P&R Holdings has no intention to privatize Cosmopolitan by means of the offer.

UBS AG, Hong Kong Branch acted as financial advisor for P&R Holdings Limited. REORIENT Financial Markets Limited acted as financial advisor and Computershare Hong Kong Investor Services Limited acted as registrar for Cosmopolitan International Holdings Ltd. Goldin Financial Limited acted as the financial advisor to the Independent Board Committee of Cosmopolitan International. Savills Valuation and Professional Services Limited acted as the chartered surveyors and valuer. Ernst and Young acted as an accountant for P&R Holdings Limited. Jamie Barr, Nelson Tang, Crystal Antica and Tamsin Doran of Hogan Lovells acted as legal advisor for P&R Holdings Limited.

P&R Holdings Limited completed the acquisition of 0.002% stake in Cosmopolitan International Holdings Ltd. (SEHK:120) from Culture Landmark Investment Limited, Alvin Leslie Lam Kwing Wai and other shareholders for approximately HKD 0.04 million in cash on December 2, 2013. P&R Holdings acquired 0.51 million shares in Cosmopolitan International.