BUSINESS

MACPIE’S HEADS OF AGREEMENT WITH TECHNINIER LAPSES

24/09/2021 08:35 PM

KUALA LUMPUR, Sept 24 -- Macpie Bhd announced today that a heads of agreement (HOA) it signed in February to acquire up to 35 per cent stake in Techninier Sdn Bhd, a software and mobile game development company, has lapsed and ceased effective today.

Macpie, which is involved in event management as well as retail and distribution management, inked the HOA with Techninier director and chief financial officer Datin Soh Meizhi for the proposed acquisition of 280,000 ordinary shares.

The indicative purchase consideration was based on an indicative valuation of 100 per cent equity interst in Techninier of RM90 million and was intended to be fully satisfied by the issuance of new Macpie shares to the vendor.

Pursuant to the HOA, the parties agreed to enter into a definitive agreement within 60 days from the completion of a valuation on Techninier.

The period to enter the definitive ageeement was subsequently extended by 60 days twice -- on May 28 and July 26.

Macpie said the proposed acquisition was expected to strengthen its digital and e-sports events business. 

-- BERNAMA

 

 


 


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