Kuok Khoon Hong, WCA Pte. Ltd, V3 Asset Pte. Ltd, Pua Seck Guan and HOPU Fund Management Company Limited ( Offeror ) entered into a voluntary takeover offer to acquire remaining 17.6% stake in Perennial Real Estate Holdings Limited (SGX:40S) from a group of shareholders for SGD 290 million on June 12, 2020. Under the terms of offer buyer will pay SGD 0.95 for each shares of Perennial Real Estate. The offer price is final and not subject to adjustments. HOPU has agreed to provide shareholders’ loan(s) in respect of the aggregate of the amount equivalent to the offer price multiplied by the total number of offer shares. The offeror is making the offer with a view to delist Perennial Real Estate Holdings from the SGX-ST. The offeror currently has no plans to discontinue the employment of any of the existing employees of the Company and its subsidiaries. The offer will be conditional upon the offeror having received, by the close of the offer, valid acceptances not less than 90% shares. Shareholders are advised to refrain from taking any action in relation to their shares. Board of Directors of Perennial Real Estate will appoint an independent financial advisor. As of July 17, 2020, the independent directors recommend that shareholders accept the offer, unless shareholders are able to obtain a price higher than the offer price on the open market, taking into account all related expenses. As of July 21, 2020 the offer becomes unconditional. The offeror is entitled to and will in due course, exercise its right of compulsory acquisition the remaining shares. The offer will be open for acceptances until August 3, 2020. The offer will be open for acceptances until August 17, 2020. AS on August 3, 2020, SGX approved the delisting of Perennial Real Estate Holdings Limited. United Overseas Bank Limited (SGX:U11) and DBS Bank Ltd. acted as financial advisor for offeror. PricewaterhouseCoopers Corporate Finance Pte Ltd. acted as financial advisor to Perennial Real Estate Holdings Limited. Boardroom Corporate & Advisory Services Pte. Ltd. acted as a registrar in the transaction. Sandy Foo of Rajah & Tann acted as legal advisor to Perennial Real Estate Holdings Limited. Kuok Khoon Hong, WCA Pte. Ltd, V3 Asset Pte. Ltd, Pua Seck Guan and HOPU Fund Management Company Limited ( Offeror ) completed the acquisition of the remaining 17.6% stake in Perennial Real Estate Holdings Limited (SGX:40S) from a group of shareholders on August 17, 2020. Approximately 99.01% shares were tendered as a part of the transaction. As of September 11, 2020, the compulsory acquisition of Perennial Real was completed