Beauty China receives non-binding conditional offer

Beauty China Holdings Limited has received a non-binding conditional offer from Dunross Asia Pte Ltd, on behalf of Dunross Group, Zesiger Capital Group LLC, Blue Pool Capital, Krohne Capital, Sean Wright and certain other investors (collectively, the "Investors"). The Investors hold in aggregate 27.45% of the issued share capital of the Company.

Subject to the negotiations between the Investors and the Company and the conditions precedent, the Investors propose that:

(a) the Company undertakes a rights issue of ordinary shares in the capital of the Company to the existing shareholders to raise gross proceeds of S$32.07 million (the "Rights Issue"); and

(b) the ratio for the Rights Issue (the "Rights Ratio") be 2 Rights Shares for every 1 existing share in the capital of the Company, and the issue price (the "Rights Issue Price") be S$0.045 per Right Share.

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