Advanced Systems Automation (SGX:WJ9) and Ethereal Capital agreed to extend the exclusivity period under the term sheet for the disposal of 67% of the company's stake in Emerald Precision Engineering from Jan. 7 to March 14.
In an earlier filing, the company had entered into a non-binding term sheet with Ethereal Capital to sell a 67% stake in its subsidiary, Emerald Precision Engineering, for 22 million ringgit.
The deal also includes the issuance of 15 million irredeemable convertible preference shares at 1 ringgit each in Emerald Precision Engineering to the purchaser, a filing with the Singapore Exchange said on Wednesday.
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