Under the term sheet, the cash consideration for this proposed divestment is $1.4 million, subject to a price adjustment based on the adjusted net asset value of ACH as at completion.
The term sheet also includes agreed safeguards, with completion conditional upon ACH meeting a minimum adjusted net asset value of $1.0 million, including cash and cash equivalents of at least $300,000.
The proposed divestment is subject to the negotiation and execution of definitive agreements, the satisfaction of conditions precedent, and approval by AcroMeta shareholders.
"This transaction allows the Group to sharpen its strategic focus and strengthen its financial flexibility as we position AcroMeta to pursue opportunities aligned with our longer-term priorities,” says Lawrence Toh, executive director of AcroMeta.
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Shares in AcroMeta closed flat at 2.4 cents on Feb 5.
