Ultimately Pte Ltd. entered into a conditional sale and purchase agreement to acquire Ultimate Drive EuroSports Pte. Ltd. from Eurosports Global Limited (Catalist:5G1) for SGD 0.29 million on February 14, 2019. Ultimately Pte Ltd. will acquire 1 million shares of Ultimate Drive EuroSports. Upon completion, Ultimate Drive EuroSports will cease to be a subsidiary of Eurosports Global Limited. Ultimate Drive EuroSports reported net assets of SGD 0.52 million as of September 30, 2018. The transaction is subject to all representations, undertakings and warranties provided by Eurosports Global Limited under the agreement being complied with, true, accurate and correct as at the date of the agreement and is subject to all approvals and consents as may be necessary from any third party, governmental or regulatory body or relevant competent authority for the entry into, completion and performance of the agreement by the parties, being granted or obtained. On completion, Eurosports Global Limited shall deliver to Ultimately Pte Ltd. duly executed share transfer form and copies of the board of Ultimate Drive EuroSports approving the transfer of shares. The proceeds from the transaction will be used to fund the working capital requirements of Eurosports Global Limited. The transaction would not result in a gain or loss to Eurosports Global Limited. Ultimately Pte Ltd completed the acquisition of Ultimate Drive EuroSports Pte. Ltd. from Eurosports Global Limited (Catalist:5G1) on March 28, 2019. Eurosports Global received cheque payments amounting to a total of SGD 0.29 million on March 27, 2019.