RGT Berhad (KLSE:RGTBHD) entered into a conditional share sale agreement to acquire 70% stake in Top Degree (M) Sdn Bhd from Ong Liang Kheng, Kau Yoon Thiam and Kau Yan Tuck for MYR 14 million on September 7, 2021. Under the terms, RGT Berhad will acquire 1.29 million shares, 1.13 million shares and 0.31 million shares from Ong Liang Kheng, Kau Yoon Thiam and Kau Yan comprising 33%, 29% and 8% stakes respectively. The consideration will be financed entirely via internally generated funds. After the acquisition Ong Liang Kheng, Kau Yoon Thiam and Kau Yan Tuck will hold 10% stake each in Top Degree (M) Sdn Bhd. The Financials of Top Degree (M) Sdn Bhd for 2021 are total assets of MYR 7.36 million, net assets of MYR 3.12 million, revenues of MYR 5.24 million and loss after tax of MYR 1.37 million. The transaction does not need approval of shareholders of RGT Berhad and any relevant government authorities. the transaction is expected to be completed by December of 2021.