Sitra Holdings (International) Limited entered into an agreement to acquire remaining 46% stake in Mapur Rocky Resort Limited from Doris Chung Gim Lian for SGD 2.6 million.

Sitra Holdings (International) Limited (Catalist:5LE) entered into an agreement to acquire remaining 46% stake in Mapur Rocky Resort Limited from Doris Chung Gim Lian for SGD 2.6 million on August 10, 2022. Sitra will acquire 46 shares of Mapur Rocky Resort Limited. The Consideration shall be paid in cash in 5 tranches according to the following payment schedule: (a) SGD 520,000 payable 6 months after the date of launch of the pre-sale of the proposed project or December 31, 2024 (the "reference date"); (b) SGD 520,000 payable 18 months after the Reference Date; (c) SGD 520,000 payable 30 months after the Reference Date; (d) SGD 520,000 payable 42 months after the Reference Date; and (g) The balance 54 months after the Reference Date.

The transaction is subject to Sitra shareholder approval. Virtus Law LLP acted as legal advisor to Sitra Holdings (International) Limited (Catalist:5LE) for the deal. As of September 30, 2022, shareholders of Sitra approved the transaction.