KUALA LUMPUR: CTOS Digital Bhd
has proposed to acquire 80,000 and 1.57 million shares in RAM Holdings Bhd from Deutsche Bank (M) Bhd and Dragonline Solutions Sdn Bhd for RM2.28mil and RM44.6mil respectively.
The proposed acquisitions, representing 0.8% and 15.65% of the total paid-up share capital in RAM respectively, “shall be fully funded by bank financing and there are no liabilities, contingent liabilities and guarantees to be assumed by CTOS, arising from the exercise.”
“The acquisition of the stakes in RAM will allow CTOS to achieve a majority shareholding in RAM. As a consequence of the acquisitions from Deutsche and Dragonline, CTOS’ equity interest in RAM will increase from 39.13% to 55.58%.
“This will allow both companies to leverage each company’s expertise in credit assessment, data and analytics to further extend their product offering and value proposition to their existing customer base,” it said in a filing with Bursa Malaysia.
The proposed exercise will not have any effect on the share capital and substantial shareholders’ shareholdings of CTOS or any material effect on the earnings per share and net assets per share for the financial year ending Dec 31, 2022, according to the statement. — Bernama
