SAPEX Group Limited (NSX:SAA) entered into a conditional term sheet to acquire PT SAS Dura- Base mats business from Pt Sas International for $8.4 million on February 22, 2018. As on June 13, 2018 the asset purchase agreement was signed. The consideration of $6.42 million will be paid in cash. The amount of $2 million will be paid by issue of ordinary shares. SAPEX Group Limited raised $11 million by the way of Convertible notes to finance the acquisition. The transaction is subject to legal, financial, technical, operational deu-diligence and third party approvals. The transaction is expected to close on March 31, 2018. As on April 12, 2018 the term sheet deadline extended to May 30, 2018. As on May 23, 2018 the transaction is expected to close before June 18, 2018. Approvals received from third party and operational due- diligence. The closing date extended to July 31, 2018. As on June 13, 2018 AUD 9.1206 million will be raised by the way of Convertible notes to finance the acquisition. As on August 3, 2018 SAPEX Group Limited and Pt Sas International executed variations to agreement which includes partial settlement by way of a non-refundable $1.4 million cash payment to be paid by August 2, 2018, the closing date extended to September 15, 2018, the balance of $5.025 million to be settled before September 15, 2018. Revenue share will increase to 80% upon final settlement. As on October 24, 2018 the key amendments include, closing date extended to November 15, 2018 and the balance of $5.025 million to be settled before November 15, 2018.