Acromec Limited (Catalist:43F) enter into a share purchase agreement to acquire 60% stake in Golden Harvest Engineering Pte Ltd from Liang Kum Keong and Quek Ghee Leong for SGD 1.9 million in stock and cash on November 23, 2016. The purchase consideration for the proposed acquisition shall be payable SGD 0.64 million in cash and 2.293 million of issuance of new shares upon the completion of the transaction and SGD 0.18 million to be paid upon the issue of the audited financial statements of Golden Harvest for the financial year ending June 30, 2017 and remaining 0.18 million to be paid upon the issue of the audited financial statements of Golden Harvest for the financial year ending June 30, 2018. The cash portion of the consideration will be financed by the proceeds from the Acromec's public offering. The transaction is subject to due diligence investigations conducted by Acromec, in-principle approval of the SGX-ST having been obtained for the listing, employment agreements and quotation of the consideration shares. On the completion date, Golden Harvest will become a 60%-owned subsidiary of Acromec Limited. The transaction is expected to be close on December 30, 2016. As on December 14, 2016, Acromec Limited received the listing and quotation notice of 2.29 million new ordinary shares. Acromec Limited (Catalist:43F) completed the acquisition of 60% stake in Golden Harvest Engineering Pte Ltd from Liang Kum Keong and Quek Ghee Leong on January 3, 2017. The consideration shares of 2.29 million have been issued and are expected to be listed by January 5, 2016.