Teo Hock Chwee, Executive Chairman of T T J Holdings Limited made the offer to acquire remaining 15.6% stake in T T J Holdings Limited (SGX:K1Q) for SGD 12.5 million on May 20, 2022. As per the transaction, Teo Hock Chwee made the offer to acquire shares at SGD 0.23 per share. Teo Hock Chwee intends to delist T T J Holdings Limited from the stock exchange. Teo Hock Chwee has sufficient financial resources to meet the offer obligation. The offer is conditional upon minimum level of acceptance of 90% stake of T T J Holdings Limited. If it achieved level of acceptance of 90%, Teo Hock Chwee will make compulsory acquisition for remaining stake. Acceptances of the Offer must be received by the close of the Offer on July 8, 2022. As of July 7, 2022, the Closing Date of the has been extended from July 8,2022 to July 22, 2022. As of July 8, 2022, Teo Hock Chwee has received valid acceptances in respect of an aggregate of 315,444,390 shares thus minimum threshold has been achieved and the offer is now unconditional. ASIAN CORPORATE ADVISORS PTE. LTD acted as financial advisor to offeror. ZICO Capital Pte. Ltd. acted as financial advisor to directors of T T J Holdings Limited.

Teo Hock Chwee, Executive Chairman of T T J Holdings Limited completed the acquisition of remaining 15.6% stake in T T J Holdings Limited (SGX:K1Q) on July 22, 2022. Teo Hock Chwee, Executive Chairman of T T J Holdings will exercise its right of compulsory acquisition to acquire all the Shares held by the Dissenting Shareholders on or after August 23, 2022. The shares on the SGX-ST will be suspended after the close of the Offer result of the Delisting Application will be announced in due course. Subject to the result of the Delisting Application, the Company will be delisted upon the completion of the compulsory acquisition by the Offeror under Section 215(1) of the Companies Act. The squeeze out merger of the remaining stake got completed on August 23, 2022. The Board wishes to announce that the T T J Holdings Limited will be delisted from the Official List of the SGX-ST with effect from 9:00 a.m. on August 30, 2022.