mm2 Asia Ltd. has announced the termination of its agreement to sell 97,553,226 ordinary shares in Vividthree Holdings Ltd., representing approximately 21.02% of Vividthree’s share capital, to Hildrics Asia Growth Fund VCC. The decision, made on 8 September 2025, was reached mutually by both parties due to recent market volatility and the current circumstances of mm2 Asia.
The termination of the share purchase agreement (SPA) was formalised through a deed of termination, releasing both parties from their obligations without any claims or rights against each other. Despite incurring professional fees and other expenses related to the proposed disposal, mm2 Asia stated that the termination is not expected to materially impact its financial performance for the year ending 31 March 2026.
The Board of mm2 Asia, led by Executive Chairman Melvin Ang Wee Chye, emphasised that the mutual termination aligns with the best interests of both parties involved. Shareholders and potential investors are advised to exercise caution and seek professional advice when dealing with shares in the company.
“`
