MULTIPLE PROPOSALS RGT BERHAD ("RGTBHD" OR THE "COMPANY") (FORMERLY KNOWN AS ASIA KNIGHT BERHAD) I. PROPOSED ACQUISITION; AND II. PROPOSED EXEMPTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
RGT BERHAD ("RGTBHD" OR THE "COMPANY") (FORMERLY KNOWN AS ASIA KNIGHT BERHAD) I. PROPOSED ACQUISITION; AND II. PROPOSED EXEMPTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
On behalf of the Board of Directors of RGTBHD ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") is pleased to announce the following:-
i. RGTBHD had on 21 August 2019 entered into a conditional share sale agreement ("SSA") with Hor Lim Chee, Ng Choon Keat, Tan Song Chai, Lim Seat Hoe and Tan Ann Chee (collectively referred to as the "Vendors") for the acquisition of the remaining 6,000,000 ordinary shares in Rapid Growth Technology Sdn Bhd ("RGTSB"), representing 40% equity interest in RGTSB, for a purchase consideration of RM48,000,000 to be satisfied entirely via issuance of 282,352,941 new ordinary shares in RGTBHD ("Consideration Share(s)") at an issue price of RM0.17 per Consideration Share to RGT Equity Holdings Sdn Bhd ("RGT Equity"), being a nominee company owned by the Vendors, subject to the terms and conditions contained in the SSA ("Proposed Acquisition"); and
ii. An exemption to the Vendors, RGT Equity and the person(s) acting in concert with them from the obligation to undertake a mandatory take-over offer for all the remaining Shares and Warrants in RGTBHD not already held by them pursuant to the Proposed Acquisition under Paragraph 4.08(1) of the Rules on Take-Overs, Mergers and Compulsory Acquisitions ("Proposed Exemption").
Further details of the Proposals are set out in the attachment enclosed.
This announcement is dated 21 August 2019.
Please refer attachment below.
|Company Name||RGT BERHAD|
|Date Announced||21 Aug 2019|
|Category||General Announcement for PLC|