Silverlake Axis Completes Acquisition Of Silverlake Digital Economy Sdn Bhd, Silverlake Digitale Sdn Bhd and Silverlake One Paradigm Sdn Bhd

Singapore, 18 April 2018 – Singapore Exchange Mainboard listed Silverlake Axis Ltd (“SAL” or the “Group”), a leading provider of Digital Economy Solutions and Services to major organisations in Banking, Insurance, Payments, Retail and Logistics industries has today completed the acquisition of the entire issued and paid up capital of Silverlake Digital Economy Sdn Bhd, Silverlake Digitale Sdn Bhd and Silverlake One Paradigm Sdn Bhd (the “Target Entities”). With this completion, each of the Target Entities is now a wholly-owned subsidiary of SAL.

The aggregate Base Consideration for the acquisition of the Target Entities is RM154,915,719 and this was satisfied by way of transfer of 70,108,333 treasury shares of SAL, based on the Agreed Issue Price of S$0.71 per share, to the Sellers in proportion to their respective shareholding interests in the Target Entities.

The 70,108,333 treasury shares were acquired by SAL from the market for an average cost of approximately S$0.60 per share and after this transfer, the number of treasury shares held by SAL is 21,266,267 shares.

This press release should be read in conjunction with SAL’s announcements dated 18 April 2018 released to the Singapore Exchange. Unless otherwise defined, capitalised terms used herein shall have the meanings ascribed to them in the announcement of SAL dated 20 October 2017 (“Proposed Acquisition Announcement”).