Christopher Ho Wing-On made an offer to acquire Lafe Corporation Limited (SGX:AYB) from Sino Capital Resources Limited and other shareholders for SGD 15.2 million on May 27, 2020. Under the terms of the offer, Sansui Electric will pay SGD 0.6 per share in cash for 24% stake in Lafe Corporation and will issue promissory notes of SGD 11.6 million to Sino Capital Resources for 76% stake in Lafe Corporation. Christopher Ho Wing-On intends to exercise its right to compulsorily acquire all the offer shares not acquired under the offer. Lafe Corporation will be delisted post acquisition. Christopher Ho Wing-On has sufficient financial resources to satisfy full acceptance of the offer. Transaction is subject to minimum acceptance condition. Save for the minimum acceptance condition, the offer is unconditional in all other respects. As of June 10, 2020, Board of Lafe Corporation recommended the transaction. As of June 12, 2020, minimum tender condition fulfilled and transaction became unconditional. The offer will close on July 8, 2020. ZICO Capital Pte. Ltd. acted as financial advisor and fairness opinion provider for the independent Directors of Lafe Corporation. Phillip Securities Pte Ltd acted as financial advisor for Christopher Ho Wing-On. M & C Services Private Limited acted as transfer agent for Lafe Corporation. Christopher Ho Wing-On completed the acquisition of Lafe Corporation Limited (SGX:AYB) from Sino Capital Resources Limited and other shareholders on July 8, 2020. As of July 8, 2020, Christopher Ho Wing-On received acceptance of 93.15% stake and hence Christopher Ho Wing-On will exercise compulsory acquisition. As of July 22, 2020, as part of the transaction, if no application is made to the Court by a remaining member pursuant to Section 102(1) of the Bermuda Companies Act, Christopher Ho Wing-On will on the completion date procure that shares of the remaining members are transferred to the Offeror pursuant to Section 102 of the Bermuda Companies Act. The compulsory acquisition is expected to be completed on August 28, 2020. As of August 26, 2020, Christopher Ho Wing-On exercised its right of compulsory acquisition under Section 102(1) of the Bermuda Companies Act to acquire the shares of the dissenting shareholders. Christopher Ho Wing-On has paid to the Lafe Corporation Limited a sum representing the aggregate amount payable for the shares to be acquired from the dissenting shareholders. As of August 28, 2020, compulsory acquisition was completed and Lafe Corporation will be delisted from the Official List of the SGX-ST.