Paramee Songsittichoke entered into a sale and purchase agreement to acquire 49% stake in Asian Micro NGV Auto Sales (Thailand) Co., Ltd from Asian Micro Holdings Limited (Catalist:585) for SGD 0.18 million on March 29, 2017. As per the terms of agreement, Asian Micro Holdings Limited will sell 19,600 shares of Asian Micro NGV Auto Sales (Thailand) Co., Ltd. The payment will be made in cash. Additionally, pursuant to the terms of the SPA, Paramee Songsittichoke will pay to Asian Micro Holdings Limited SGD 0.06 million of excluded debt upon completion of the proposed disposal. Post transaction Asian Micro Holdings Limited will cease to have any interest in Asian Micro NGV Auto Sales (Thailand) Co., Ltd. Asian Micro NGV Auto Sales (Thailand) Co., Ltd reported net liabilities of SGD 0.18 million as of December 31, 2016. The transaction is subject to all consents and approvals required under any and all applicable laws for sale of the shares, warranties from Asian Micro Holdings Limited and Paramee. Completion of the sale and purchase of the shares shall take place on the third business day from the day on which all the conditions have been satisfied, or such other date as the parties may agree in writing. The long stop date is the date following three months from the date of the signing of the share purchase agreement or such other period as the parties may agree in writing. Asian Micro Holdings Limited intends to use the net proceeds for working capital purposes for the operations of its property business.