Tritech Group Limited (Catalist:5G9) entered into a conditional sale and purchase agreement to acquire 54% stake in Geosoft Pte Ltd. from Tritech International Holdings Pte Ltd. for SGD 0.8 million on January 22, 2016. Under the terms of the agreement, Tritech Group will acquire 0.22 million shares of Geosoft. Tritech Group and Tritech International have agreed for such payment of the consideration to be deferred to after the completion of the proposed acquisition and in such manner as may be mutually agreed by parties. Pending such payment the consideration amount shall remain as an interest-free amount owing by Tritech Group. Upon the completion of the acquisition, Geosoft will become a subsidiary of Tritech Group Limited. During the year ended March 31, 2015, Geosoft reported profit after tax of SGD 0.07 million and net liability position of SGD 0.07 million.

Tritech Group Limited (Catalist:5G9) completed the acquisition of 54% stake in Geosoft Pte Ltd. from Tritech International Holdings Pte Ltd. on January 22, 2016.