Benjamin Solomon Tan entered into a conditional sale and purchase agreement to acquire remaining 60% stake in AutoInc EuroSports Pte. Ltd from Eurosports Global Limited (Catalist:5G1) for SGD 1.4 million on October 18, 2018. Under the terms of the transaction, Benjamin Solomon Tan will acquire 0.09 million shares of AutoInc EuroSports and loans of SGD 0.53 million owing by AutoInc EuroSports to Eurosports Global Limited and loans of SGD 0.89 million owing by AutoInc EuroSports to EuroSports Auto Pte Ltd. The consideration will be paid in installments, SGD 0.05 million will be paid on completion, SGD 0.25 million will be paid on or before November 30, 2018, 10 installments of SGD 0.1 million each will be paid every six months starting from May 31, 2019 till November 30, 2023, the last installment of SGD 0.11 million will be paid on May 31, 2024. The transaction is conditional upon all material approvals, consents, licenses, permits, waivers and exemptions, including but not limited to approval from Singapore Exchange Securities Trading Limited and/or Eurosports Global Limited shareholders (if required). The conditions should be satisfied on or before the date following three months from the date of this agreement or such other period as the parties may agree in writing. Completion shall take place on or before 7 days of fulfillment of all conditions. The proceeds from the transaction will be used to fund the working capital requirements of Eurosports Global Limited Group. Benjamin Solomon Tan completed the acquisition of remaining 60% stake in AutoInc EuroSports Pte. Ltd from Eurosports Global Limited (Catalist:5G1) on December 18, 2018. On completion, Eurosports Global Limited has received instalments aggregating SGD 0.3 million from Benjamin Solomon Tan. As of May 30, 2021, Eurosports Global Limited and EuroSports Auto, had on May 28, 2021, signed an addendum to the SPA with the purchaser to revise the purchase consideration from SGD 1,411,717.80 to SGD 1,050,000.00. As at the date of this announcement, the company and EuroSports Auto has received payment instalments aggregating to SGD 650,000 from the purchaser. The purchaser has agreed to make a payment of SGD 200,000.00 on June 1, 2021 and SGD 200,000 on June 15, 2021 to the company and EuroSports Auto. As of June 16, 2021, EuroSports Auto has received full payment.