GETS Global Berhad (KLSE:GETS) entered into a heads of agreement to acquire 25% stake in Stylish Technology Sdn Bhd from BT Capital Sdn Bhd for MYR 112 million on April 12, 2021. The purchase consideration to be determined later which will be satisfied via a combination of cash and/ or issuance of shares and/ or other securities of GETS at an issue price of RM1.90 per share. The transaction is subject to the approval of the Board and shareholders of GETS, issuance of the Consideration Securities, consummation of due diligence and the results thereof being satisfactory to GETS, GETS continuing to be listed on the Main Market of Bursa Securities. On July 9, 2021, the parties mutually agreed to extend the 3-months exclusivity period in the HOA ending July 11, 2021, for a further period ending October 12, 2021.
On 30 August 2021, on behalf of the Board, UOBKH announced that the Company proposed to undertake the following i. an acquisition of 1,250,000 ordinary shares in One Glove Venture Sdn Bhd (formerly known as Great Stylish Venture Sdn Bhd), representing 25% equity interest in OGVSB, from BT Capital for a purchase consideration of RM100,000,000 to be satisfied via the issuance of 52,631,579 Consideration ICPS at an issue price of RM1.90 per Consideration ICPS ("Previous Proposed Acquisition"). The Company had entered into a conditional share sale agreement dated 30 August 2021 ("Previous SSA") with the Vendor in relation to the Previous Proposed Acquisition.
UOB Kay Hian Securities (M) Sdn Bhd acted as financial advisor to GETS Global Berhad.
GETS Global Berhad (KLSE:GETS) Cancelled the acquisition of 25% stake in Stylish Technology Sdn Bhd from BT Capital Sdn Bhd on March 29, 2022.