Asset Acquisitions And Disposals :: Acquisition Of 100% Of The Issued Shares Of Nxgen Communications Pte Ltd

TELECHOICE INTERNATIONAL LIMITED

(REG. NO. 199802072R)

ACQUISITION OF 100% OF THE TOTAL NUMBER OF ISSUED SHARES IN THE SHARE CAPITAL OF NXGEN COMMUNICATIONS PTE LTD IN TWO TRANCHES

The Board of Directors ("Board") of TeleChoice International Limited ("Company") refers to the Company's announcement of 10 October 2011 ("10 October 2011 Announcement") and its

further announcements on 13 October 2011, 1 November 2011, 21 May 2012 and 15 July 2015 ("15 July 2015 Announcement") relating to the abovementioned matter. All capitalised terms used in this announcement and defined in the 10 October 2011 Announcement or the 15 July 2015 Announcement bear the meanings ascribed to them in the 10 October 2011 Announcement or the 15 July 2015 Announcement, as the case may be.

The Final Provisions have been ascertained and, based on such Final Provisions, the Actual Relevant NPAT has been adjusted from approximately S$4.87 million to approximately S$5.00 million and the Tranche 2 Consideration has therefore been adjusted from approximately S$5.90 million to approximately S$6.06 million. Accordingly, the Company has paid to the Tranche 2 Vendors an aggregate of approximately S$0.16 million, being the amount of the aforesaid adjustment to the Tranche 2 Consideration, on 12 August 2016. Following such adjustment and payment, the Tranche 2 Consideration has now been paid in full.

By Order of the Board

Lim Shuh Moh Vincent President

12 August 2016