PETALING JAYA: Catcha Digital Bhd
, via its wholly owned iMedia Asia Sdn Bhd, has entered into a share sale agreement to acquire a 70% equity interest in Tastefully Malaysia Sdn Bhd, a food expo company, for RM7.6mil cash from Fong Shal Thing and Lee Jing Yee.
In a filing with Bursa Malaysia, Catcha stated the valuation was at an implied weighted-average forward price earnings multiple of 8.58 times and the cash consideration will be paid in four tranches over 36 months.
The payments are tied to the achievement of the expected profit after tax during this period, starting from the completion date of the sale and purchase of shares.
iMedia also inked a call option agreement with Fong for iMedia to acquire 140 Tastefully shares (representing 14% equity interest) for RM2.1mil cash and a call option agreement with Lee to acquire 60 Tastefully shares (representing 6% equity interest) for RM900,000 cash.
