KUALA LUMPUR: PUC Bhd
has revised the proposed acquisition of Alevate Solutions Sdn Bhd for a total consideration of RM100mil together with an implementation of a share issuance scheme (SIS).
In a statement, PUC said the acquisition will be settled through the issuance of 800.0 million new ordinary shares in PUC at 12.5 sen per share.
Alevate Solutions, established in 2016, is a digital marketing provider focused on business consultancy and growth strategies, primarily serving small and medium enterprises (SMEs).
PUC said the proposed acquisition of Alevate Solutions would enhance its existing digital marketing capabilities, creating synergies that are expected to provide a comprehensive, integrated approach for the group’s clients across various sectors.
"The acquisition of Alevate Solutions represents an exciting step forward in PUC’s strategy to strengthen our digital marketing and business consultancy capabilities.
“With the profit guarantee in place, we are confident that this acquisition will not only bolster our financial performance but also unlock new synergies that will enhance our service offerings and create long-term value for our stakeholders,” PUC group managing director and chief executive officer Cheong Chia Chou said.
PUC said the acquisition of Alevate Solutions would bring a minimum audited profit after tax (PAT) of RM12.5mil for the 24-month period from Jan 1, 2025 to Dec 31, 2026.
In June 2024, PUC entered into a heads of agreement for the purchase of the entire equity stakes in Alevate Capital Sdn Bhd and Alevate Solutions for RM200mil to be satisfied by cash and shares.
Under the terms of the agreement, PUC said that it would settle the first RM100mil of the purchase consideration through the issuance of 800 million PUC shares at 12.5 sen a share.
