MyEG Services Bhd’s wholly owned subsidiary MyEG Capital Sdn Bhd has announced it will dispose of its 10% stake in national security solutions provider S5 Holdings Inc, and undertake a reverse takeover of S5 via Ancom Logistics Bhd .
The RTO will entail the proposed acquisition by ALB of the entire share capital of S5 at a price to be agreed by the parties, subject to a valuation report to be issued by an independent valuer.
For avoidance of doubt, the proposed acquisition, the proposed mandatory general offer, proposed private placement and proposed offer for sale are not conditional upon the proposed disposal.
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