LINK HOLDINGS (08237): The joint liquidators have informed that the forced sale has been completed.

LINK HOLDINGS (08237) has announced that following the appointment of the joint liquidators, they have taken control of Silverine and are conducting a systematic sale process of its assets. A binding offer was received on November 18, 2025. After evaluating multiple bids, an offer to acquire all shares of HHI and LHI held by Silverine (the sale shares) was accepted on December 5, 2025. The joint liquidators, on behalf of Silverine (in liquidation), have entered into a share purchase agreement with an independent third party, dated December 24, 2025 (supplemented on December 29, 2025 and January 2, 2026), involving the sale of the sale shares by Silverine for a consideration of SGD 115 million (mandatory sale). Recently, the joint liquidators informed the company that the mandatory sale was completed on January 2, 2026, and pending the outcome of a Singapore appeal related to the 2023 financing agreement and the settlement of all debts and other priority claims, the company will ultimately receive any net proceeds as a shareholder. The decision to sell the sale shares, including the timing, structure, and terms of the mandatory sale, was made by the joint liquidators with the statutory powers granted by the BVI court, without the need for approval from Silverine and the company's respective boards of directors. The mandatory sale is being carried out by the joint liquidators pursuant to the BVI court order, and the group is not authorized to act contrary to it. The company has been informed that the mandatory sale is part of an asset realization process undertaken by Silverine in accordance with the applicable liquidation framework.