NTTD Japan to acquire 58.73% in GHL Systems

Services offered by GHL Systems

KUALA LUMPUR: NTT Data Japan Corp (NTTD Japan) has entered into an unconditional share purchase agreement with vendors Actis Stark (Mauritius) Ltd, APIS Growth 14 Ltd, Loh Wee Hian and Tobikiri Capital Ltd who collectively own 58.73% in GHL Systems Bhd for the purchase of their stake for RM724mil.

Accordingly, NTTD Japan is obliged to extend a mandatory take-over offer to acquire all the remaining shares not already held by the company at RM1.08 per share pursuant to Section 218(2) of the Capital Markets and Services Act 2007 and paragraph 4.01(a) of the Rules on take-overs, mergers and compulsory acquisitions.

In a statement, via CIMB Investment Bank Bhd, NTTD Japan (the offeror) said the acquisition would be completed within two market days from the date of the notice by way of direct business transaction under the Bursa Malaysia rules and the terms and conditions of the sale and purchase agreement.

Following the completion of acquisition, the offeror’s direct shareholding in GHL would increase from nil to 670,440,235 shares, representing 58.73%.

The offeror confirms that it has sufficient financial resources to satisfy full acceptance of the offer.

The principal activity of NTTD Japan is consulting, provision of integrated solutions and system and software development, maintenance and support. — Bernama