On May 26, 2020, Japan NK Investment KK announced that it has submitted a non-binding proposal on May 25, 2020, to Sky Solar Holdings, Ltd.’s Board of Directors. Japan NK Investment stated that under the proposal, it proposes to acquire, through an acquisition vehicle to be formed by them, all of the outstanding ordinary shares not beneficially owned by Japan NK Investment for US$6.00 per ADS in cash, representing a premium of 81.3% to the closing price of the Company’s ADSs on May 22, 2020 and a premium of 94.0% and 109.2% to the volume-weighted average closing price of the Company’s ADSs during the last 7 and 30 trading days, respectively.