Du Junhong made an offer to acquire LCT Holdings Limited (SGX:BJL) from group of investors for SGD 21.1 million on September 16, 2020. Du Junhong will acquire 35.2 million shares of LCT Holdings at an offer per share of SGD 0.6 per share. If the offer settlement date falls on or before the record date, the Du Junhong will pay the relevant accepting shareholders the unadjusted offer price for each offer share, as the Du Junhong will receive the distribution in respect of such offer shares from LCT Holdings and if the offer settlement date falls after the record date, the offer price payable for such offer shares tendered in acceptance shall be reduced by an amount which is equal to the distribution in respect of such offer shares, as the Du Junhong will not receive such distribution from LCT Holdings. Du Junhong has sufficient funds to fund the transaction. DU Junhong intends to acquire the remaining shares through a compulsory acquisition on the same terms as the offer. Du Junhong has received irrevocable undertakings from other shareholders of LCT Holdings accept the offer in respect of an aggregate 9.7 million shares, representing 27.65% of the issued shares. Shareholders are Tao Qiang, Deng Hua, Deng Lirui, Tang Jiping, Tang Xiaoxun, Guan Yadong and Fan Haitao. Du Junhong intends to exercise its right of compulsory acquisition. Du Junhong intends to make the Offer with a view to delist and privatize LCT Holdings. Upon-completion, LCT Holdings will be wholly owned by Du Junhong. The offer is conditional upon Du Junhong and person acting in concert receiving valid acceptance from 90% shareholders. As of October 30, 2020, the minimum acceptance condition has been met and the offer is declared unconditional. On November 11, 2020, Offeror has given notice to dissenting shareholders of its intent to acquire shares of LCT Holdings Limited compulsorily at price equal to offer price. The offer is expected to close on November 3, 2020. On October 30, 2020, the offer was extended from November 3, 2020 until November 17, 2020. The compulsory acquisition is expected to be completed on or around December 18, 2020. CEL Impetus Corporate Finance Pte. Ltd. acted as financial advisor for Du Junhong. Danny Lim and Tan Mui Hui of Rajah & Tann Singapore LLP acting as legal advisor for Du Junhong.