The Board of Directors of AcroMeta Group Limited announced that the Company has incorporated a new wholly-owned subsidiary, known as AcroMeta Minerals Pte. Ltd. ("New Subsidiary"), a company incorporated in Singapore. The New Subsidiary has an initial share capital of SGD 1,000, consisting of 1,000 shares.

Its primary activities will include manufacturing non-metallic mineral products and engaging in wholesale trade, including the supply of high-grade silica sand. The funding for the Company's contribution to the New Subsidiary comes from internal resources. At this juncture, the New Subsidiary is not expected to have any material impact on the earnings per share and net tangible assets per share of the Company for the financial year ending 30 September 2024.

The incorporation of the New Subsidiary is in relation to the MOU signed for new business opportunities as announced on 6 November 2023. None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the New Subsidiary save for their shareholdings in the Company.