PETALING JAYA: LEAP Market-listed RTS Technology Holdings Bhd
has entered into a share sale agreement (SSA) to acquire 100% equity interest in Work At Cloud Sdn Bhd (WAC) for RM18mil.
In a filing with Bursa Malaysia, the group said the purchase consideration will be satisfied via the issuance of 136.36 million new RTS shares at 13.2 sen per share.
The SSA follows an earlier memorandum of understanding signed on April 14 between RTS Technology and the vendors – Exceez Technologies Sdn Bhd, Pama Solutions Sdn Bhd and Worldory Sdn Bhd.
As part of the agreement, the vendors have provided a profit guarantee, assuring that WAC will achieve at least RM3mil in profit after tax for the financial period from Jan 1 to Dec 31, 2026.
Upon completion of the acquisition, the vendors and persons acting in concert are expected to collectively hold about 52.29% of RTS.
