Japan NK Investment K.K., IDG-Accel China Capital L.P., IDG-Accel China Capital Investors L.P., IDG Capital Partners, Sino-Century Hx Investments Limited, Jolmo Solar Capital Ltd., Ces Holding Ltd., TCL Transportation Holdings Limited, Esteem Venture Investment Limited, Mamaya Investments Ltd, Xanadu Investment Ltd. (H.K.), Development Holding, Abdullateef A. AL-Tammar, Bjoern Ludvig Ulfsson Nilsson, Jing Kang, Bin Shi and Kai Ding (the consortium) made a non-binding proposal to acquire the remaining 26% stake in Sky Solar Holdings, Ltd. (NasdaqCM:SKYS) for $32.8 million on May 22, 2020. Under the terms, the consortium will offer $6 per ADS or $0.3 per ordinary share in cash of Sky Solar not already owned by the consortium. The consortium already collectively owns approximately 72% stake in Sky Solar. If the consortium succeeds in obtaining 90% ownership of Sky Solar through the offer, the consortium will then conduct a short- form merger to acquire any remaining shares of Sky Solar. The Consortium intends to finance the proposed transaction through a combination of debt and equity financing. On July 5, 2020, the consortium and Daiwa Energy & Infrastructure Co. Ltd. finalized and executed the debt commitment letter of approximately $40 million. The parties entered into entered into first amendment on July 24, 2020 and amendment no. 2 on July 27, 2020. As of August 20, 2020, the parties entered into third amendment. As of August 31, 2020, the parties entered into fourth amendment. The transaction is subject to a number of conditions, including, among other things, the negotiation and execution of a definitive merger agreement, minimum tender of at least 90% of total outstanding shares, commitment letter for debt financing shall remaining in full force and effect as of the expiration of the offer and other related agreements mutually acceptable in form and substance to the Issuer and the members of the Consortium. The Offer is not conditioned upon any recommendation by Sky Solar Holdings board of directors or by any committee thereof. As of July 6, 2020, the tender offer was commenced. As on July 20, 2020, the special committee of Sky Solar declared that it was unable to take a position with respect to the offer primarily because the Special Committee and its financial and legal advisors have not received all information they have requested to allow them to complete a full and deliberate review and evaluation of the material terms and provisions of the Offer. As on July 24, 2020, it was announced that offer will expire on July 31, 2020 unless it is extended. Houlihan Lokey (China) Limited, and Conyers Dill & Pearman and Kirkland & Ellis acted as the financial and legal advisors respectively for the Special Committee of Sky Solar Holdings. Georgeson LLC acted as information agent and Computershare Trust Company, N.A acted as transfer agent and depository to the consortium.