Progress continues in the privatization of ANE (09956) as consortium receives further shareholder support

Since the consortium composed of Dah Sing Capital, Temasek, and Temasek Holdings announced the proposal to privatize the company and delist from the Hong Kong Stock Exchange on October 28, progress has been continuously made. The latest announcement shows that the offeror has received additional irrevocable commitments from Ivy Little Rock I Limited ("Ivy Little Rock") and ABS Direct Equity Fund LLC - Asia Series 6 ("ABS", collectively referred to as "IvyRock entities") to support the delisting proposal. Each IvyRock entity has chosen cash consideration for all of its planned shares. The IvyRock entities collectively hold 20,046,875 shares, representing approximately 1.70% of the company's issued shares (excluding treasury shares) and approximately 2.65% of shares held by independent shareholders. Previously, the company's CEO Mr. Qin Xinghua and COO Mr. Jin Yun have provided irrevocable commitments to support the privatization proposal. With the addition of the IvyRock entities to the support camp, the proposal is further secured in its progress.