VCPlus Limited (Catalist:43E) agreed to acquire remaining 45% stake in Custody Plus Pte. Ltd from CapitalX Global Limited, Desmond Tan Ghee Teong, Hong Eng Leong Jeffrey, One Light Holdings Pte. Ltd., Foo Kok Chye and Yip Chee Hoong for SGD 0.3 million on June 30, 2023. Under the terms of transaction, the payment will be paid in two tranches of base consideration and incentive consideration. The base consideration will be paid by issuance of an aggregate of 63,000,000 new Shares at an issue price of SGD 0.01 per share at completion of acquisition and the incentive consideration will be paid either by issuance of 72,000,000 shares or 50% cash and 50% shares. As of December 31, 2022, Custody Plus Pte. Ltd reported net asset of approximately SGD 440,000 and loss after tax of approximately SGD 560,000. The transaction is expected to close before July 31, 2023 and is subject to approval of the SGX-ST for the listing of consideration shares, all necessary third party, governmental and regulatory approvals. Navi Corporate Advisory Pte Ltd acted as independent valuer in the transaction. As of July 17, 2023, all of the conditions of acquisition are satisfied.

VCPlus Limited (Catalist:43E) completed the acquisition of remaining 45% stake in Custody Plus Pte. Ltd from CapitalX Global Limited, Desmond Tan Ghee Teong, Hong Eng Leong Jeffrey, One Light Holdings Pte. Ltd., Foo Kok Chye and Yip Chee Hoong on July 25, 2023.