Sound Global

Sound Global (SGL): lifts halt at 8.30am this morning. Formally makes the delisting and exit offer, after first mooting the action in Jun ’13. The Exit Offer will be made at $0.70 in cash for each offer share. The offeror does not intend to increase the Exit Offer Price. The delisting and exit offer are subject to approval of the delisting resolution by shareholders at an EGM to be convened. Approval requires a majority vote of at least 75% of total shares present, and the resolution not being voted against by 10% or more of the shares present. The delisting is NOT a privatization exercise, and following the delisting, SGL will continue to maintain primary listing of the shares on the SEHK. Shareholders who currently trade their shares on SGX, and who do not accept the Exit Offer will be able to continue trading their shares on the SEHK subsequent to the Delisting. Their shares will be automatically transferred, at the co’s cost, to the HK Branch Register. Thereafter, shareholders will be able to trade their shares freely on the SEHK upon setting up the appropriate investor participant stock accounts, through authorized brokerage firms in HK or Singapore.