UES Holdings Pte. Ltd. entered into conditional agreement to acquire P99 Holdings Limited (Catalist:5UV) in a reverse merger transaction on September 30, 2016. The consideration comprises a refundable deposit of SGD 2 million to be paid in cash within 90 days of the execution of the agreement, 612.5 million new shares and SGD 14 million in cash within 90 days of closing. The deal is subject to approval from shareholders of P99 Holdings Limited and Giant Maze, parent of UES Holdings, approval from board of UES Holdings and P99, listing of consideration shares, approval of stock exchange, relevant governmental bodies and financial, business and legal due diligence. The long stop date of the transaction is June 30, 2017. The long stop date is extended to July 31, 2017. SAC Capital Private Limited acted as financial advisor for P99 Holdings. UES Holdings Pte. Ltd. cancelled the acquisition of P99 Holdings Limited (Catalist:5UV) in a reverse merger transaction on July 28, 2017.