In terms of rationale, AcroMeta says it decided to proceed with the proposed disposal after a strategic review of the financial position, operational needs and long-term business expansion strategy and direction of the group.
While the bank valuation price for the property is in the range of $1.0 million to $1.1 million, the group still stands to make a profit of $425,000 from the proposed disposal.
The net proceeds from the proposed sale would support the group’s operating cash flows and business expansion plans, including investments in the co-working laboratory business.
Shares in AcroMeta closed unchanged at 2.3 cents on March 18.
