Advanced Systems Automation Limited (Catalist:5TY) entered into a share purchase agreement to acquire LSO Organization Holdings Pte. Ltd from Lim Chen Chong, Victoria Lim Yu and Structured Capital Solutions Inc for SGD 6.8 million on October 24, 2023. LSO Organization Holdings Pte.

Ltd holds 50% of Lim Shrimp Organization Ltd. The Proposed Acquisition will be funded by the Company?s issue of redeemable convertible notes worth SGD 20 million. Transaction is subject to Due diligence investigation, approval from Advanced Systems Automation Limited's board of director and shareholders. ZICO Capital Pte.

Ltd. and ZICO Insights Law LLC acted as Financial and legal advisor to Advanced Systems Automation Limited and will be paid a fee of SGD 0.5 million and SGD 0.4 million respectively. As of June 14, 2024, The resolutions proposing, inter alia, the Proposed Acquisition, were put to vote by way of poll at the EGM held on 31 May 2024, and were not passed by Shareholders.