Unless otherwise defined, capitalised terms used herein shall have the meanings ascribed to them in the
announcement of Silverlake Axis Ltd dated 20 October 2017 (“Proposed Acquisition Announcement”).
Further to the Proposed Acquisition Announcement, the Board of Directors of Silverlake Axis Ltd
(“Company”) wishes to announce that approval in-principle (“AIP”) has been obtained from the
Singapore Exchange Securities Trading Limited (“SGX-ST”) on 29 January 2018 for the listing of,
dealing in, and quotation on the Main Board of the SGX-ST of up to 661,654,400 ordinary shares
in the capital of the Company (“Consideration Shares”) to be issued in satisfaction of the
consideration for the proposed acquisition of 100% of equity interest in the Target Entities.
- 2. The SGX-ST’s approval in-principle is subject to the following conditions:
- (a)compliance with the SGX-ST’s listing requirements;
- (b)Shareholders’ approval on the issuance of the Consideration Shares; and
- (c) disclosure in the circular to Shareholders in relation to the Transaction a confirmation
from the Audit Committee of the Company that it has reviewed the procedures in the
existing interested person transactions mandate and confirms that the existing
procedures and methods are sufficient to ensure that the existing interested person
transactions as well as the new interested person transactions arising from the
Transaction will be carried out on normal commercial terms and will not be prejudicial to
the interest of the Company and its minority shareholders.
- 3.The SGX-ST’s approval in-principle is not to be taken as an indication of the merits of the
Transaction, the Consideration Shares, the Company and/or its subsidiaries.
- 4.As announced by the Company today, a circular dated 9 February 2018 (“Circular”), containing,
inter alia, details of the Transaction, together with a notice convening a special general meeting to
seek Shareholders’ approval of the Transaction, has been despatched to Shareholders.
BY ORDER OF THE BOARD
Dr Kwong Yong Sin
Group Managing Director
9 February 2018
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