NauticAWT Limited (Catalist:42D) entered into a share purchase agreement to acquire World Industrial Estate Co., Ltd. from World Corporation Public Company Limited and Chirasak Chiyachantana for SGD 27 million on November 30, 2021. The consideration will be satisfied by the issuance of 135 million shares in NauticAWT Limited. For June 30, 2021, World Industrial Estate reported Net Assets of SGD 28.6 million and net profit after tax of SGD 13.2 million. The transaction is subject to World Corporation Public Company Limited obtaining board approval, shareholder approval and Due diligence, NauticAWT Limited receiving board approval and shareholder approval and approval from SGX-ST. The transaction is expected to close within six months. As of June 3, 2022, The due diligence process is taking longer than initially planned and NauticAWT has concurrently assessing and exploring its options. The expected completion date has extended and it is expected to complete from June 10, 2022 to March 31, 2023.

UOB Kay Hian Pte Ltd acted as financial advisor to NauticAWT Limited.

NauticAWT Limited (Catalist:42D) Cancelled the acquisition of World Industrial Estate Co., Ltd. from World Corporation Public Company Limited and Chirasak Chiyachantana on March 21, 2023. The share purchase agreement dated 30 November 2021 in relation to the foregoing has since lapsed as the conditions precedent set out under clause 4 of the 2021 SPA were not fulfilled on or before the long stop date of the 2021 SPA.