Ivan Ong Shao Kuang agreed to acquire Digimatic Media Pte Ltd, Wewe Media Group Pte Ltd, 51% stake in Anonymous Production Sdn Bhd and 51% stake in Webbynomics Pte Ltd from Digimatic Group Ltd. (ASX:DMC) for SGD 2.2 million on August 20, 2018. As per the conditional share swap and buy-back agreement signed between parties, the consideration for the transaction shall involve Digimatic Media buying back from Ivan Ong Shao Kuang and then cancelling its 3.03 million shares, representing 6.96% stake in Digimatic Group. Ivan Ong Shao Kuang shall acquire 1 million shares in Digimatic Media, 51 shares in Webbynomics and 0.13 million shares in Wewe Media Group. The transaction is subject to shareholder approval for the sale, shareholder approval for the buyback of shares, due diligence investigations, Digimatic Media Pte Ltd paying back an amount receivable of SGD 1.36 million oweto Digimatic Group, approval of the board of Digimatic Group and all other approvals, consents and requirements being obtained or fulfilled. The directors of Digimatic Group unanimously recommend the shareholders to vote in favor of the transaction. As of August 31, 2018, Digimatic Group Ltd issued notice to its shareholders for meeting to be held on September 26, 2018. As of September 26, 2018, shareholders of Digimatic Group Ltd has approved the transaction. The transaction is expected to be completed on October 31, 2018. Moore Stephens Perth Corporate Services Pty Ltd acted as independent expert for Digimatic Group. Moore Stephens charged a fee of $0.03 million (SGD 0.04 million). Ivan Ong Shao Kuang completed the acquisition of Digimatic Media Pte Ltd, Wewe Media Group Pte Ltd, 51% stake in Anonymous Production Sdn Bhd and 51% stake in Webbynomics Pte Ltd from Digimatic Group Ltd. (ASX:DMC) on October 2, 2018.