Secura Group Limited (Catalist:43B) entered into a sale and purchase agreement to acquire 51% stake in OneSecure Asia Pte Ltd from How Chee Keong for SGD 2 million on August 1, 2023. Consideration will be in the form of SGD 1 million in cash to vendor and rest of the cash will be paid in the form of earnout payment. Secura Group Limited will acquire 0.29 million shares of OneSecure Asia Pte Ltd. The remaining 49.0% of the issued and paid-up share capital of the OneSecure Asia Pte Ltd will continue to be held by the How Chee Keong.

The acquisition will be funded through the Secura?s internal resources. Transaction will be subject to completion of a business, legal, tax and financial due diligence exercise, all amounts owing by or due from OneSecure ?s directors and/or his connected persons and connected companies having been fully repaid and received, OneSecure Asia Pte Ltd having entered into a service agreement with How Chee Keong, the execution of the agreement, receipt by Secura of such approvals, consents and waivers as may be necessary to enable Secura to be registered as holders of the Sale Shares, all other necessary approvals, consents, waivers, licenses, authorizations, orders, grants, clearances, confirmations, recognitions, permissions and/or registrations, for the acquisition and the transactions contemplated under the agreement having been obtained, and all approvals which are necessary for the carrying on of the business of ONESECURE having been granted by all third parties including all governmental authorities compliance with all applicable requirements as prescribed under the listing manual and there being no material change to any of the employment terms of any employee of ONESECURE.