Serge Pun, Tun Tun and Cyrus Pun made an exit offer to acquire remaining 50.16% stake in Memories Group Limited (Catalist:1H4)(MGL) from Yoma Strategic Investment Ltd. and others for for SGD 35.4 million on September 12, 2022. Under the terms, MGL will be acquired for the consideration of either SGD 0.047 per share in cash or in lieu of the Cash Consideration, one (1) New Yoma Strategic Investment Share at the price of SGD 0.047 per New Yoma Strategic Investment share. Memories (2022) Pte. Limited a special purpose company will be a joint offeror in the Exit offer. Exit offer has been presented to the board of directors of MGL to seek the approval and for delisting from the Catalist of the Singapore Exchange Securities Trading Limited.

Directors have reviewed the Delisting Proposal and have resolved to (a) apply to the SGXST for the Delisting; and (b) subject to the approval of the SGX-ST, convene an extraordinary general meeting of MGL ("EGM") to seek the approval of the shareholders of MGL by at least 75% of votes. Offer is expected to close on 2 December 2022.

SAC Capital Private Limited acted as financial advisor to Serge Pun, Tun Tun and Cyrus Pun. Provenance Capital Pte. Ltd. acted as a financial advisor and Altum Law Corporation acted as legal advisor to Memories Group Limited.

Serge Pun, Tun Tun and Cyrus Pun completed the acquisition of remaining 50.16% stake in Memories Group Limited (Catalist:1H4)(MGL) from Yoma Strategic Investment Ltd. and others on December 2, 2022. The offeror has exercised its right of Compulsory Acquisition on 9 January 2023 to acquire the remaining shares.