Tang Dynasty Treasure Pte. Ltd. intends to make a voluntary conditional cash offer to acquire Chip Eng Seng Corporation Ltd (SGX:C29) from Gordon Tang, Celine Tang and others for approximately SGD 560 million on November 24, 2022. Under the terms Tang Dynasty Treasure will pay SGD 0.72 per share for the transaction. As of December 5, 2022, the transaction terms are revised from SGD 0.72 per share to SGD 0.75 per share. Transaction is conditional upon Tang Dynasty holding more than 50% of total Shares (excluding treasury Shares) as at the close of the Offer. As of December 14, 2022, the transaction becomes unconditional and is expected to close on January 19, 2023. As per the announcement of January 19, 2023, the transaction is expected to close on February 2, 2023. As on February 2, 2023, closing date of offer has been extended from February 2, 2023 to February 16, 2023. As of February 9, 2023, the offeror has received valid acceptances amounting to 654,470,655 shares, representing approximately 83.34% shareholding of Chip Eng Seng Corporation. As of February 13, 2023, the offeror has received valid acceptances amounting to 705,779,955 shares, representing approximately 89.87% shareholding of Chip Eng Seng Corporation. As of February 23, 2023, The tender offer has got the 90% of acceptances. As of February 28, 2023, As stated in the Grant of Delisting and Waivers Announcement, the SGX-ST has no objection to: the Delisting of the Company from the Official List of the SGX-ST, granting the Company the Waivers. Further to the Grant of Delisting and Waivers Announcement, and the Compulsory Acquisition Dispatch Announcement, the Company wishes to inform Shareholders that as the Offeror has dispatched the relevant documents relating to the Compulsory Acquisition on 27 February 2023, the Delisting conditions and Waivers conditions imposed by the SGX-ST in respect of the Delisting and Waivers respectively have all been satisfied. As of March 28, 2023, Offeror exercised its right of compulsory acquisition to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer as at the close of the Offer on the same terms as those offered under the Offer.

United Overseas Bank Limited acted as financial advisor to Tang Dynasty Treasure Pte. Ltd. Xandar Capital Pte. Ltd. acted as financial advisor to Chip Eng Seng Corporation. RHT Corporate Advisory Pte. Ltd. acted as a registrar to Tang Treasure. Chip Eng Seng Corporation of Allen & Gledhill LLP acted as legal advisor to Chip Eng Seng Corporation.