Kuala Lumpur 21 Jan 2016 : Diversified investment company, Nexgram Holdings Bhd (Nexgram) saw Bursa announced that the general offer (GO) of Ire-tex Berhad would be held back which could not be completed within the time frame, in view of recent speculations where certain assets may need to be reviewed, which may not have enough time to update the circular of the GO.

As part of the company corporate governance, the company may take the initiative to review on the doubts and issues being speculated, including possible set up of review team, and by holding back the GO. The company will decide on next action including explore of potential exercises when the review report is completed.

The company despite recently being strangely targeted, is growing the existing businesses in right direction. In recent announcement, the company show that the well planned succession planning is taking shape which ensure that the group has a more risk balanced business diversification to withstand any down turn compared to single industry reliance.

The business prospect in each core industries, such as telco software, security & surveillance, property development and logistics would keep the group occupied the next few years, and does not have any impact despite the strange series of speculations. The group has full confidence of existing business prospects," commented Tuan Haji Masru, spokes person for Nexgram.

Nexgram Holdings Berhad (“Nexgram Group”) is a public listed multinational investment company based in Kuala Lumpur, Malaysia. As of to date, the group operates through the following segments: Telecommunication, Security & Surveillance, Software Development, Property Development, Industries, Business Advisories and Investment activities.

TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS) NEXGRAM HOLDINGS BERHAD ("NEXGRAM" OR THE "COMPANY") CONDITIONAL TAKE-OVER OFFER BY NEXGRAM TO ACQUIRE THE ENTIRE EQUITY INTEREST AND ALL OUTSTANDING CONVERTIBLE SECURITIES IN IRE-TEX CORPORATION BERHAD ("PROPOSED OFFER" OR "OFFER")

NEXGRAM HOLDINGS BERHAD ("NEXGRAM" OR THE "COMPANY") 

CONDITIONAL TAKE-OVER OFFER BY NEXGRAM TO ACQUIRE THE ENTIRE EQUITY INTEREST AND ALL OUTSTANDING CONVERTIBLE SECURITIES IN IRE-TEX CORPORATION BERHAD ("PROPOSED OFFER" OR "OFFER")