Neo Kah Kiat and Liew Oi Peng ("Offeror") made an offer to acquire the remaining 17.7% stake in Neo Group Limited (Catalist:5UJ) for SGD 15.7 million on March 30, 2021. Under the terms of the consideration, the shares will be acquired for SGD 0.6 per share. Neo Kah Kiat and Liew Oi Peng, respectively own 76.79% and 5.47%. The transaction is subject to minimum acceptance condition wherein acceptances of the Offer, will result in the Offeror and the parties acting in concert with it holding such number of Shares carrying more than 90% of the voting rights attributable to the issued Shares. Except for the Minimum Acceptance Condition, the Offer is unconditional in all other respects. Should the Offeror meet the Minimum Acceptance Condition, the Offeror would be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer at a price equal to the Offer Price. The offer will close on May 11, 2021. On April 19, 2021, the offer is declared unconditional. Accordingly, the Closing Date for the Offer will be extended from May 11, 2021 to May 25, 2021. United Overseas Bank Limited acted as financial advisor for the Offeror. Wong Bee Eng of Provenance Capital Pte. Ltd appointed as the independent financial adviser to advise the directors of Neo Group. BDO LLP acted as auditor for Neo Group. Boardroom Corporate & Advisory Services acted as registrar to the offer.