Ding Liguo, Executive Chairman and Chief Executive Officer of Delong Holdings Limited made an offer to acquire 24.44% stake in Delong Holdings Limited (SGX:BQO) for approximately SGD 190 million on September 27, 2018. Ding Liguo will acquire the shares at SGD 7 per share in cash. Ding Liguo does not intend to revise the offer price. Accordingly, if any dividend, other distribution or return of capital is declared, made or paid by Ding Liguo on or after September 27, 2018, Ding Liguo reserves the right to deduct from the offer price payable to each shareholder who has accepted the offer, the amount of such dividend, distribution or return of capital received by such shareholder. The transaction will be funded by bank facilities extended to Ding Liguo by Deutsche Bank AG, Singapore Branch pursuant to a loan facility agreement. PrimePartners Corporate Finance Pte. Ltd, as financial advisor to Ding Liguo in connection with the offer, confirms that sufficient financial resources are available to Ding Liguo to satisfy in full all acceptances of the offer for the offer shares in cash. Ding Liguo has no intention to introduce any major changes to the business of Delong Holdings Limited or discontinue the employment of the employees of Delong Holdings Limited, save in the ordinary course of the business. The offer will be conditional upon Ding Liguo having received valid acceptances in respect of 90% of the total number of offer shares. Ding Liguo reserves the right to revise the acceptance condition to a lower minimum acceptance level, provided that such revision may only be made after obtaining the consent of the Securities Industry Council of Singapore. If Ding Liguo receives valid acceptances pursuant to the offer, for not less than 90% of the total issued shares (other than those already held by Ding Liguo, its related corporations or their nominees as at the date of the offer), Ding Liguo will be entitled to exercise its right to compulsorily acquire, at the offer price, all the offer shares of shareholders who have not accepted the offer. Accordingly, Ding Liguo will be entitled to exercise compulsory acquisition upon the satisfaction of 90% acceptance condition. Ding Liguo does not intends to preserve the listing status of Delong Holdings Limited on the Main Board of Singapore Exchange Securities Trading Limited. The offer will remain open for acceptances by shareholders for a period of at least 28 days from the date of posting of the offer document. PrimePartners Corporate Finance Pte. Ltd acted as the financial advisor to Ding Liguo. B.A.C.S. Private Limited acted as the registrar to Delong Holdings Limited and PricewaterhouseCoopers Corporate Finance Pte Ltd. acted as the financial advisor to the independent Directors of Delong Holdings Limited.