Topvision Eye Specialist Berhad (KLSE:TOPVISN) entered into a conditional share sale agreement to acquire a 50.1% stake in Novel Glove International Sdn Bhd from Tan Zhe Wei and Tan Seng Kooi for MYR 0.45 million on October 15, 2021. The total consideration will be paid in cash. Upon completion, Novel Glove will become 50.10% owned subsidiary of Topvision, while Tan Zhe Wei and Tan Seng Kooi will collectively hold the remaining 49.90% equity interest. The total consideration will be funded from internally generated funds of the Topvision. The Novel Glove has unaudited net asset of MYR 702,509 as of August 31, 2021. TSK founder of Novel Glove will operate as Managing Director. Topvision has intention to retain the management and employees of Novel Glove after the proposed acquisition. The acquisition is conditional upon Topvision having conducted a due diligence on the legal, financial, taxation and other affairs of Novel Glove and is satisfied with the results from the due diligence as confirmed in writing. The proposed acquisition is not subject to the approval of Topvision’s shareholders. The transaction is expected to be completed in 4th quarter of 2021. The Proposals are expected to contribute to the future earnings and EPS of the Topvision. Inter-Pacific Securities has been appointed as the adviser of the Topvision. Topvision Eye Specialist Berhad (KLSE:TOPVISN) completed the acquisition of a 50.1% stake in Novel Glove International Sdn Bhd on December 21, 2021.