Sin Chuan Resources Pte. Ltd. agreed to acquire Kee Song Bio-Technology Holdings Limited (TPEX:1258) for approximately TWD 994 million on February 23, 2023. The price per share is TWD 27.

Upon completion of the Merger, the Company shall be the surviving company and KSV is to be the dissolved company. The Company will be a wholly-owned subsidiary of SCR on the Merger Record Date. The source of funds is the self-owned funds of SCR's upper shareholders and bank financing.

After the Merger is resolved by the extraordinary general meeting, the Company plans to apply with the TPEx for delisting in accordance with relevant rules and regulations and for cessation of its status as a public company in Taiwan in accordance with relevant laws and regulations depending on the actual situation. Board of Directors approved the transaction. The conditions precedent of the Merger include: (a) the Company's general meeting has agreed to the Merger and the Merger Agreement; (b) KSV's general meeting has agreed to the Merger and the Merger Agreement, (c) each party to the Merger has obtained the required approvals from the relevant governmental authorities in connection with the Merger (including but not limited to SCR and/or the paying agent having obtained the approval or confirmation (if required) from the Central Bank of the Republic of China (Taiwan) and relevant government authorities and agencies with regard to the remittance of funds and the conversion thereof to NTD for payment of the Merger Consideration; the approval from TPEx to terminate the listing of the Company's shares and the permission to cease the Company's status as a public company in the R.O.C. to be obtained by the Company).

The Merger Record Date is tentatively set to be June 26, 2023. As of May 15, 2023, Kee Song Bio-Technology Holdings Limited received approval from Taipei Exchange for the termination of the listing of securities and public offerings from June 9, 2023, via letter on May 11, 2023. The board of directors decided to cancel the 2023 Annual General Meeting originally scheduled to be held on June 30, 2023.

The Merger Record Date is set to be June 9, 2023.