Asian Micro Holdings Limited (Catalist:585) agreed to acquire 40% stake in Asian Micro Realty Development, Inc. from Mr Lim and Mdm Leong for SGD 3.2 million on August 31, 2022. Asian Micro Holdings will acquire 7,500 ordinary shares of the Target Company representing 30.0% of the total issued share capital. Mdm Leong has granted the Company an option to acquire an additional 2,500 ordinary shares in the Target Company for SGD 0.8 million registered in the name of Ms Sophia Lin and held by Ms Sophia Lin as bare trustee of Mdm Leong.

Deal is subject to regulatory, statutory and target board approval. If any of the Conditions is not satisfied on or before the 30 June 2023, the SPA shall terminate and no party shall have any claim against the other parties for costs.