Smile-Link Healthcare Global Berhad (KLSE:SMILE) entered into a conditional shares sale agreement to acquire Smile-Link Sdn Bhd from Dato’ Wong Ruen Yuan and Datin Wong Chien Yue (f) for MYR 6 million on September 13, 2019. Smile-Link Healthcare Global will acquire 1 million shares of Smile-Link Sdn Bhd and will pay the consideration through issuance of 4.9 million shares worth MYR 3.9 million and via cash payment of MYR 1.6 million. The cash consideration of MYR 1.6 million will be paid in tranches, a refundable earnest deposit of MYR 0.06 shall be paid upon execution of agreement, MYR 0.55 million shall be payable within two days upon obtaining Smile-Link Healthcare Global’s shareholders’ approval and the balance of MYR 1 million shall be payable in two tranches, of which, the first tranche, will be upon three months from the date of Smile-Link Healthcare Global’s shareholders’ approval, and the second tranche will be six months after Smile-Link Healthcare Global’s shareholders’ approval. Smile-Link Healthcare Global intends to fund the cash consideration through internally generated funds and/or external borrowings. In case of termination takes place within 14 days upon execution of the agreement, earnest deposit will be fully refunded. Smile-Link Sdn Bhd reported revenues of MYR 8.8 million, profit after tax of MYR 0.99 million for the year ended December 31, 2018 and reported total equity of MYR 1.3 million as of December 31, 2018. The transaction is subject to approval by shareholders of Smile-Link Healthcare Global to be held on October 10, 2019, hand over the trade licensing, books and records by sellers upon the approval by the Smile-Link Healthcare Global shareholders. As on October 10, 2020, the transaction was approved by the shareholders of Smile-Link Healthcare Global. The acquisition is expected to be completed by the fourth quarter of 2019. As on July 2, 2020, an agreement was signed to postpone the transaction until December 31, 2020. On January 4, 2021, Smile-Link Healthcare Global Berhad, Dato’ Wong Ruen Yuan and Datin Wong Chien Yue (f) entered into a supplemental shares sale agreement for extending the closing of the transaction until June 30, 2021 to fulfil the terms and conditions stated in the agreement. The acquisition is not expected to have any material effect on the earnings and earnings per share of Smile-Link Healthcare Global for the financial year ending December 31, 2019. The acquisition is expected to contribute positively to the future earnings and earnings per share of Smile-Link Healthcare Global in the medium to long term. WYNCORP Advisory Sdn Bhd acted as financial advisor for Smile-Link Healthcare Global Berhad. Smile-Link Healthcare Global Berhad (KLSE:SMILE) completed the acquisition of Smile-Link Sdn Bhd from Dato’ Wong Ruen Yuan and Datin Wong Chien Yue (f) on May 6, 2021.