KUALA LUMPUR, Jan 26 (Bernama) — Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, today announced that it has entered into a Share Sale and Purchase Agreement (“SSPA”) to acquire a collective 162,305 ordinary shares, representing approximately a 30.87% equity interest in Asian Business Software Solutions Pte Ltd (“ABSS”) from the latter’s minority shareholders.
The RM14.1 million purchase consideration was arrived at a “willing-buyer, willing-seller” basis after taking into consideration, amongst others, the historical financial performance of ABSS, the value of the proprietary software portfolio and the prospects of ABSS moving forward. The purchase consideration shall be satisfied via proceeds from a proposed private placement exercise of up to 20.0% of its total number of issued shares to third party investors to be identified later, under the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016.
