The Board of Directors of Systech wishes to announce that the Company had on 10 April 2017 entered into a share sale agreement (“SSA”) with Mr. Murali Nair (“Vendor”) for the acquisition of 51,000 ordinary shares in the share capital of Postlink Pte. Ltd. (“Postlink”), representing 51% of the total number of issued shares in Postlink (“Sale Shares” or “Postlink Shares”), for a purchase consideration of RM9.80 million (“Proposed Acquisition”) to be satisfied by a combination of cash amounting to RM1,600,100 and issuance and allotment of 30,370,000 new ordinary shares in Systech (“Systech Shares”) at an issue price of RM0.27 per Systech Share.
The details of the Proposed Acquisition are attached.
In term of future prospect. Systech is doing the right decision. Postlink is sg company which providing courier solution and systech is ready for the future demand which Ali Pay 10/04/2017 21:00
ryong is right. this is a good move by systech. backdoor entry to future prospects. This is what postlink's servives entails. Look at the item Warehousing and Handling and lodgement services.
» Full mail aggregation services including postage » Printing of address labels, carrier sheets, proxy forms etc » Data Management » Supply of PE bags and/or envelopes » Collection & delivery services » Warehousing » Handling & lodgment services
E commerce + courier service. What u think? Right timing doing right acquisition. With Ali pay solution and courier service will be in high demand. Why choose Singapore company but not local?
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