Ever Glory United Holdings Limited (Catalist:ZKX) agreed to acquire Fire-guard Engineering Pte. Ltd. from Low Chin Ban, Chee Teow Siong, Lim Teck Seng, Wong Wen Hsing and Chee Yen Ming for SGD4.04 million on January 17, 2024. The consideration will be paid on the Completion Date SGD1.65 million, within 1 month after the last of the Conditions Subsequent being fulfilled, the issue and allotment of an aggregate of 4,125,000 ordinary shares of Ever Glory United, up to SGD450,000 in cash and the issue and allotment of an aggregate of up to 1,125,000 Shares to the Vendors on 9 financial period ended December 31, 2023, 1 month of the financial year ending December 31, 2024 and 1 month of the financial year ending December 31, 2025.

and As at the date of this announcement, Low Chin Ban, Chee Teow Siong, Lim Teck Seng, Wong Wen Hsing and Chee Yen Ming each hold 200,000, 300,000, 215,000, 40,000 and 245,000 ordinary shares in the Fire-guard Engineering respectively, representing 20.0%, 30.0%, 21.5%, 4.0% and 24.5% of the total issued share capital respectively. Upon completion of the Proposed Acquisition, Ever Glory United shall become the sole shareholder of Fire-guard Engineering. The transaction is subject to the board of directors approval from Ever Glory United and Fire-guard Engineering, sellers have entered into service contracts with the Target, obtain such approval(s) from Ever Glory United's shareholders and/or SGX-ST (and any other regulatory authority) in connection with the SPA and the transactions,contemplated, and obtain the approval in-principle from the SGX-ST for the listing of Consideration Shares.

The transaction is shall take place on the date falling 3 business days after the last of the conditions precedent has been fulfilled.