ISOTeam Ltd. (Catalist:5WF) entered into a share sale agreement to acquire Rong Shun Engineering & Construction Pte. Ltd. from Ting Guak Choo of SGD 6.5 million on January 5, 2017. Under the terms of the agreement, the consideration of approximately SGD 3.68 million will be paid in cash and approximately SGD 1.58 million will be settled in shares of ISOTeam Ltd., on completion and SGD 0.6 million shall be settled in shares after completion of first anniversary and SGD 0.6 million shall be settled in shares after completion of second anniversary. The transaction will be funded from the proceeds raised through placement of 9 million shares announced on May 27, 2015 and internal resources. No director is proposed to be appointed to ISOTeam Ltd in connection with the proposed transaction. The transaction is subject to due diligence, all consents, approvals and authorizations of the bankers, financial institutions, landlords of leases, any other relevant third parties, government or regulatory authorities which are necessary, approval by shareholder and Board of ISOTeam Ltd., Singapore Exchange Securities Trading Limited, there is no change in the shareholding or capital structure of Rong Shun Engineering & Construction before completion of the transaction, delivery of Rong Shun Engineering & Construction's audited accounts and the management accounts, the entering into of a service agreement between each of Chua Hoi Tek and Kelvin Tan Meng Soo and ISOTeam Ltd. for a three-year term commencing on the completion date. No independent valuation was conducted on Rong Shun. Silvia Heng and Wrisney Tan of August Consulting acted as the public relations advisor for ISOTeam Ltd. ISOTeam Ltd. (Catalist:5WF) completed the acquisition of Rong Shun Engineering & Construction Pte. Ltd. from Ting Guak Choo on January 12, 2017.