The net proceeds from the disposal are expected to go towards the group’s general working capital purposes to cover AcroMeta (SGX:43F
) ’s operating expenses.
AcroMeta Group has entered into a sale and purchase agreement (SPA) with Altea LSI Asset Management Limited for the disposal of its 70% stake in Life Science Incubator Holdings (LSI).
Under the SPA, the disposal has a purchase consideration of $2.7 million. Upon completion, LSI will cease to be a subsidiary of the group.
