The LOI requires AcroMeta’s in-principle acceptance within 10 business days, failing which, the LOI will lapse. Should AcroMeta accept, both parties aim to enter into a definitive agreement by Feb 28 or any other mutually-accepted date.
AcroMeta has, on Jan 19, received an indicative non-binding letter of intent (LOI) from AESM to buy its controlled environments engineering subsidiary, Acromec Engineers.
AESM is a newly-incorporated private company that consists of a few of the management personnel from Acromec Engineers. This includes Chew Chee Keong, founder of Acromec Engineers and chief operating officer (COO) and executive director of AcroMeta.
