Liu Jia Yan Johnny made an offer to acquire Dutech Holdings Limited (SGX:CZ4) from Spectacular Bright Corp., DBS Nominees Pte. Ltd., Willalpha International Limited and others for approximately SGD 140 million on May 31, 2021. Johnny, Chief Executive Officer, Executive Chairman and Director of Dutech, has proposed to acquire all 356.54 million issued and paid-up ordinary shares of Dutech for SGD 0.4 per share in cash. As of July 15, 2021, Offeror has increased an offer price to SGD 0.435 per share in cash. In a related transaction, Spectacular Bright and DBS Nominees have also executed an irrevocable undertaking where both companies accept the offer. UOBKH confirms that sufficient financial resources are available to the Offeror to satisfy full acceptance of the Offer. If Johnny acquires acceptances exceeding 90% of the total number of issued shares, he can also exercise the right to compulsorily acquire all the shares of the shareholders who have not accepted the offer. Spectacular has also agreed to be allotted and issued new ordinary shares in the capital of the offeror for an aggregate subscription price that will be set off, in full, against the cash consideration payable by the offeror to Spectacular for accepting the offer. Upon completion, Dutech will be delisted from the Singapore Exchange (SGX). As on June 22, 2021, 152.438956 million Shares held by Spectacular Bright Corp and 56.282864 million Shares held by Willalpha International Limited, which Spectacular Bright Corp and Willalpha International Limited have tendered or undertaken to tender in acceptance of the Offer pursuant to the Irrevocable Undertakings. The total number of Shares owned, controlled or agreed to be acquired by the Offeror and the Offeror's Concert Parties; and valid acceptances of the Offer, amount to an aggregate of 220.966154 million Shares, representing approximately 61.98% of the total number of Shares. As of July 15, 2021, Offeror has received valid acceptances amounting to 281,763,193 Shares, representing approximately 79.03% of the the share capital of Dutech. As of July 30, 2021, the Offeror has received valid acceptances amounting to 317,069,050 Shares, representing approximately 88.93% of the total number of Shares. The offer is unconditional in all respects. The transaction is expected to close on July 16, 2021. As of July 16, 2021, offer is extended and will close on August 2, 2021. As reported on August 2, 2021 and August 12, 2021, offer is extended and will close on August 16, 2021. UOB Kay Hian Private Limited (UOBKH) acted as financial advisor for Johnny. SAC Capital Private Limited acted as financial advisor to the directors of Dutech. B.A.C.S. Private Limited acted as registrar to Dutech. Liu Jia Yan Johnny completed the acquisition of Dutech Holdings Limited (SGX:CZ4) from Spectacular Bright Corp., DBS Nominees Pte. Ltd., Willalpha International Limited and others on August 16, 2021. The offeror has received valid acceptances amounting to 322.919907 million shares, representing approximately 90.57%.