Smartag Solutions to seek shareholders' approval for proposed private placement

Datuk Amar Abdul Hamed Sepawi

KUCHING: Smartag Solutions Bhd is seeking approval from its shareholders on a proposed private placement that would raise RM4.54mil to fund the group’s overseas business expansion.

The company will table the proposal to place out up to 45.4 million new ordinary shares of 10 sen each, representing 20% of the existing issued and paid-up capital to company directors and investors at an extraordinary general meeting (EGM) on April 28.