KTL Global Limited (SGX:EB7) entered into a memorandum of understanding to acquire AJ Oasis Inc Pte. Ltd. for SGD 10 million on March 30, 2023. The purchase consideration payable in cash of up to SGD 2 million and the balance to be by way of issue of new ordinary shares in the Company to the Vendors. The Company intends to fund the cash component of the Consideration by undertaking fund raising on the capital markets, including but not limited to placements and rights issues.

The completion is conditional upon several conditions having been fulfilled includes, All material approvals, waivers and consents as may be required for the sale of the Sale Shares, to enable the Company to be registered as holder of all of the Sale Shares, Results of due diligence being satisfactory to KTL Global, Approvals or waivers from Singapore stock exchange, respective regulatory agencies and shareholders of KTL Global Limited for the Proposed Acquisition, including but not limited to the listing and quotation of any shares to be issued by the Company as part of the Consideration, An agreed management agreement entered with Glenn Yap and Vivian Lai, and AJO for a period of 3 years effective from the completion of the Proposed Acquisition, An agreed principal consulting agreement entered with Alain Ong and AJO for a period of 3 years effective from the completion of the Proposed Acquisition, AJO achieving at least SGD 10 million in revenue for the financial period ending 31 December 2022, The Supply Contracts remaining in force and ongoing and a sale purchase being executed between the parties by April 30, 2023. The Proposed Acquisition should be completed by no later than December 31, 2023. As of December 3, 2023, The Board of Directors of KTL Global submitted an application to seek the SGX-ST?s approval for an extension of time for a period of up to twelve months.