Sunningdale Tech Ltd (SGX:BHQ) acquired Adval Tech (Thailand) Company Limited from Adval Tech Holdings (Asia) Pte. Ltd for THB 25.6 million on September 4, 2018. The consideration was wholly satisfied in cash. Under the terms of the acquisition, Adval Tech (thailand) Company was acquired on a cash-free and debt-free basis. 0.4 million shares of Adval Tech (thailand) Company were acquired at nil consideration. A sum of SGD 1.1 million (THB 25.6 million) was paid by Sunningdale Tech to Adval Tech Holdings (Asia) as repayment of intercompany loans on behalf of Adval Tech (thailand) Company. The consideration was funded from the internal resources of Sunningdale Tech. As of December 31, 2017, the book value of Adval Tech (thailand) Company was reported as THB 4.8 million. Shareholders’ approval was not required for the acquisition. Ong Sin Wei of WongPartnership LLP acted as legal advisor to Sunningdale Tech Ltd. Sunningdale Tech Ltd (SGX:BHQ) completed the acquisition of Adval Tech (Thailand) Company Limited from Adval Tech Holdings (Asia) Pte. Ltd on September 4, 2018.