Link: https://links.sgx.com/1.0.0/corporate-announcements/29XMY3R8IWKIH5GM/71e07b34eb6d0d19f5bbe8c9a771428aa9eff9416e8b22fcfeea728cc2923207

Summary:

• AF Global Limited received SGX approval to waive shareholder meeting requirements for selling its 55% stake in Knight Frank Pte Ltd for S$36.89 million.

• Sale classified as a “major transaction,” but waiver was granted as the asset is non-core and sale was foreshadowed in prior disclosures.

• Major shareholders (Aspial Corporation Limited and Koh Wee Meng, holding 72.6% voting rights) provided irrevocable undertakings to support the sale.

• The transaction will strengthen the Group’s balance sheet, with an estimated gain of S$3.44 million over book value, and improve net asset value per share.

• Completion of the disposal is scheduled for 17 October 2025; all conditions for the waiver have been fulfilled.

• Proceeds will be used for general corporate purposes. The Group’s main business will continue to focus on hospitality properties in Thailand, Vietnam, and Laos.