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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ZEN TECH INTERNATIONAL BERHAD ("ZTIB" OR THE "COMPANY") PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN ALPHA FINTECH SDN BHD ("ALPHA" OR THE "TARGET COMPANY") FOR A PURCHASE CONSIDERATION OF RM10.0 MILLION TO BE SATISFIED ENTIRELY IN CASH ("PROPOSED ACQUISITION")

ZEN TECH INTERNATIONAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ZEN TECH INTERNATIONAL BERHAD ("ZTIB" OR THE "COMPANY")

PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN ALPHA FINTECH SDN BHD ("ALPHA" OR THE "TARGET COMPANY") FOR A PURCHASE CONSIDERATION OF RM10.0 MILLION TO BE SATISFIED ENTIRELY IN CASH ("PROPOSED ACQUISITION")

The Board of Directors (“Board”) of ZTIB wishes to announce that the Company had on 2 April 2024, entered into a share sale agreement (“SSA”) with Koh Chee Siong (“Vendor”) for the acquisition of 4,165,000 ordinary shares in Alpha (representing 70% of the enlarged issued and paid-up capital of the Target Company) (“Sale Shares”), for a cash consideration of RM10.0 million (“Purchase Consideration”) subject to the terms and conditions in the SSA.

 

Kindly refer to the attachment for further details of the Proposed Acquisition.

 

This announcement is dated 2 April 2024.




Please refer attachment below.



Announcement Info

Company Name ZEN TECH INTERNATIONAL BERHAD
Stock Name ZENTECH
Date Announced 02 Apr 2024
Category General Announcement for PLC
Reference Number GA1-02042024-00043



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