http://www.bursamalaysia.com/market/listed-companies/company-announcements/5439277 The Board of Directors of Systech (“Board”) wishes to announce that the Company had on 25 May 2017, entered into a share sale and subscription agreement (“SSSA”) with Mr. Reza Ishari Bin Ismail (“Vendor”) and Rofarez Solutions Sdn Bhd (“Rofarez”) for the acquisition of 270,000 ordinary shares (“Shares”) (“Sale Shares”) in the share capital of Rofarez, for a purchase consideration of RM0.70 million (“Proposed Acquisition”) to be satisfied by cash payable to the Vendor and for the subscription of 479,900 Shares (“Subscription Shares”) for the total subscription price of RM0.80 million (“Proposed Subscription”).
The Company had also entered into a shareholders’ agreement with the Vendor on even date, to regulate their rights and obligations as shareholders of Rofarez and the manner in which Rofarez will be managed and operated (“Shareholders’ Agreement”).
The details of the Proposed Acquisition, Proposed Subscription and Shareholders’ Agreement are attached.
Now, why would Systech buy into a cloud solutions expert? Think about it for a second. Here, read up about the Rofarez company here: http://www.rofarezsolutions.com.my/
If you look back compare with quarter,you will found that the e commerce solution is not profitable as before,only contribute RM220K million,other contribute by cyber security solution,that's the reason we worried and concern
systech is focusing on both organic & inorganic growth. Organic growth will come from cyber security business which is boosted by recent wannacry attack. Inorganic growth will be boosted by Poslink & Rofarez acquisition.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Posted by HappyBuyer > 2017-05-25 10:18 | Report Abuse
Not sure how is the QR