the SEC Office according to the methods and procedures prescribed in the Licensing Manual for the Public. We have studied, acknowledged and understood the Personal Data Protection Policy for internal
effective upon proper submission of the Form to the SEC Office. We acknowledge that the application for cancellation via this Form shall be submitted to the SEC Office according to the methods and procedures
purposes. The date of appraisal reports for the Target Group Hotels and Resorts is 7 February 2018. The appraiser applied the income and cost approaches to estimate the fair market value of Target Group
rate of return on investment. In addition, the Company has taken into consideration other supporting calculation bases, such as the trading multiple and dividend yield approaches, which are also
calculation bases, such as the trading multiple and dividend yield approaches, which are also typically employed for decision making on business acquisitions. 6.2 The Tender Offer for all securities of GLOW The
. The value of consideration takes into account the appraisal of the shares of the business by different approaches, i.e. book value approach, adjusted book value approach, price to book value approach
the Purchaser and the Company, together with the business valuation. The value of consideration takes into account the appraisal of the shares of the business by different approaches, i.e. book value
information contained within a presentation are free to adopt differing standards and approaches as they see fit. Products and names mentioned in materials or presentations are the property of their respective