However, the group has since announced that the sale has not materialised “due to unforeseen circumstances”.
Under the conditions of the SPA, the agreement was automatically terminated on Oct 2 and is of no further force or effect.
The termination of the SPA is not expected to have any material impact on the consolidated net tangible assets or earnings per share of the group for the financial year ending June 30, 2025.
The group adds that it will “continue to explore opportunities with other parties”.
See also: ISDN acquires 51% stake in Indonesian hydropower plant contractor for $2 million
Shares in Asia-Pacific Strategic Investments closed flat at 0.1 cents on Oct 2.
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