Thinkpac Limited offered to take over SM Summit at $0.15. The offeror now own 116,247,000 Shares, representing approximately 32.1% of the share capital.

The Offeror has introduced the possible acquisition of TES-Envirocorp Pte. Ltd. ("TES") and its subsidiaries, TES-AMM (collectively, the "TES Group") at such valuation and on such other terms and conditions to be negotiated between the Company and the shareholders of TES (the "Proposed TES Acquisition"). It is however proposed that the purchase consideration be satisfied by way of the Company issuing new Shares at an issue price of $0.15 per Share.. It is envisaged that the Proposed TES Acquisition will be classified as a very substantial acquisition or reverse takeover of the Company.

The TES Group is principally engaged in the business of environmental engineering, specializing in the management and treatment of electronic waste products for multinational corporations throughout the world. With its global network covering Europe, Africa, Oceania and Asia, TES-AMM provides a comprehensive one stop electronic waste management solution to these companies, including de manufacturing, destruction, repair and refurbishment, recycling and precious metals recovery.The TES Group is principally engaged in the business of environmental engineering, specializing in the management and treatment of electronic waste products for multinational corporations throughout the world. With its global network covering Europe, Africa, Oceania and Asia, TES-AMM provides a comprehensive one stop electronic waste management solution to these companies, including de manufacturing, destruction, repair and refurbishment, recycling and precious metals recovery.

The TES Group is principally engaged in the business of environmental engineering, specializing in the management and treatment of electronic waste products for multinational corporations throughout the world. With its global network covering Europe, Africa, Oceania and Asia, TES-AMM provides a comprehensive one stop electronic waste management solution to these companies, including de manufacturing, destruction, repair and refurbishment, recycling and precious metals recovery.