Acromec plans S$3.84m share placement, to pay S$96,000 'introducer fee'

ACROMEC Limited - which designs laboratories and sterile facilities - on Wednesday said the company plans to place S$3.84 million worth of new shares to a group of investors, including one linked to a Catalist listing.

The company will also pay S$96,000 in "introducer fee" to TSS Capital, an investment holding and consultancy firm, which had introduced these investors to the company.

Acromec plans to sell 16 million new shares at S$0.24 apiece, representing 13.05 per cent of the current share capital. The share placement is not underwritten.

The issue price translates to a 3.9 per cent discount to the volume weighted average price trades done on Tuesday, the day the agreements were signed.

The group of investors include CWX Investments Pte Ltd, a subsidiary of CWX Global Limited, a company listed on the Catalist board.

CWX Global, now an investment firm, is formerly known as Loyz Energy. One of the group's current investments is a stake in the Thailand onshore oil concessions located at Phetchabun Basin, its website showed.

Part of the new shares will also be alloted to a Tan Peng Yaow, an individual investor who is a director and shareholder of Bio-Pointe Pte Ltd, a supplier to the company.

The shares are being issued under a share issue mandate approved by shareholders at the company's annual general meeting in 2017.