Metronic Global Berhad (KLSE:MTRONIC) signed heads of agreement to acquire 70% stake in S Tin Construction Sdn Bhd from Tee Kai Soon and Neng Mun Haig on April 26, 2021. As per the transaction, Metronic Global Berhad will acquire 0.525 million shares including 0.2625 million shares each from Tee Kai Soon and Neng Mun Haig representing 35% stake of S Tin Construction Sdn Bhd. The transaction is subject to certain conditions including approvals from shareholders of Metronic Global Berhad, Tee Kai Soon and Neng Mun Haig obtaining consent from creditors, entering into definitive agreement, any other approvals, waivers or consents of any authorities or parties as may be required by law or regulation or deemed necessary by the parties and uch other conditions precedent as shall be mutually agreed by the parties in the definitive agreement. Metronic Global Berhad shall within 75 days following the heads of agreement embark on and complete the due diligence and subject to the results of the due diligence at the relevant time, the Parties shall mutually agree to vary the consideration. If Metronic Global Berhad is not satisfied with the due diligence, then Metronic Global Berhad can terminate the agreement by giving written notice to other parties.