02 Mar 2015

Proposed Conditional Cash Exit Offer for Action Asia Limited

Danny Lim and Bernia Tan from the Capital Markets / M&A Practice Group acted for Almond Garden Corp. ("AGC"), a wholly-owned subsidiary of Action Electronics Co., Ltd. ("Action Electronics") (which is listed on the Taiwan Stock Exchange) in the exit offer ("Exit Offer") by SAC Capital Private Limited, for and on behalf of AGC, to acquire all the issued and paid-up ordinary shares in the capital of Action Asia Limited (“AAL”) (excluding treasury shares), other than those shares already owned, controlled or agreed to be acquired by AGC and Action Electronics in connection with the voluntary delisting of AAL from the Main Board of the Singapore Exchange Securities Trading Limited. Based on the offer price of S$0.19 per share, the target group is valued at approximately S$75.6 million.

The target group is engaged in the design, manufacture and assembly of mobile audio and video electronic products for lifestyle entertainment and in-car entertainment multimedia products (such as multi-functional digital video player, digital photo frame and digital mobile television).