SFS Group Public Company Limited (CSE:SFS) made an offer to acquire additional 12.52% stake in CyVenture Capital Public Company Ltd (CSE:EXE) for €0.18 million on April 19, 2017. Pursuant to the terms of offer, SFS will pay €0.097 per share in cash for each tendered share. Currently, SFS Group holds 79.54% stake directly and together with parties in concert holds 87.48% stake. The acceptance period will commence on June 6, 2017 and will expire on July 6, 2017. SFS Group has already made all the necessary arrangements with a banking institution for the payment of the sum concerning the takeover bid. With the conclusion of the takeover bid, if SFS Group acquires more than 90% of the stake in CyVenture Capital, SFS Group intends to exercise its right for squeeze out and demand the transfer of the remaining shares. The takeover bid is not subject to any conditions and is already considered successful. The takeover bid is subject to the approval of the bid document by the Cyprus Securities and Exchange Commission, which will be submitted to the Cyprus Securities and Exchange Commission within twelve (12) business days from the date of this announcement. As of May 29, 2017, the takeover bid document is approved by Cyprus Securities and Exchange Commission. At present, SFS Group holds directly 90.34% stake in CyVenture Capital and thus, offer becomes successful and unconditional. As of June 8, 2017, the Board of Directors of CyVenture Capital examined the public bid of SFS Group. Accordingly, Board of Directors of CyVenture Capital appointed PEK Limited to examine the public bid and draw up an evaluation report, which will be examined by Board of Directors of CyVenture Capital and draw up and publish a document having its opinion on the takeover bid. Sharelink Securities and Financial Services Limited acted as financial advisor to SFS Group.