Reverse takeover for Ancom Logistics by S5 Holdings vendors

Ancom Logistics Bhd will exit the logistics business under the exercise which includes a RTO of ALB by S5 Holdings Inc – a global integrated security solutions provider.

KUALA LUMPUR: Ancom Logistics Bhd (ALB) is acquiring S5 Holdings Inc – a global integrated security solutions provider – under a corporate exercise which will ultimately see a reverse takeover of ALB.

In a statement to Bursa Securities on Thursday, ALB said it had entered into a heads of agreement with the vendors – S7 Holdings Sdn Bhd, Merrington Assets Ltd, MY E.G. Bhd's unit MY E.G. Capital Sdn Bhd (MYEG Capital) and Avocat Sdn Bhd.