CATCHA

0.290

-0.01 (-3.3%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS CATCHA DIGITAL BERHAD ("CATCHA DIGITAL" OR "THE COMPANY") - PROPOSED ACQUISITION BY IMEDIA ASIA SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF CATCHA DIGITAL) ("IMEDIA" OR THE "PURCHASER") OF THE REMAINING 49% EQUITY INTEREST IN ITTIFY SDN BHD ("ITTIFY") FOR A CASH CONSIDERATION OF RM3,430,000 ("PROPOSED ACQUISITION")

CATCHA DIGITAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
CATCHA DIGITAL BERHAD ("CATCHA DIGITAL" OR "THE COMPANY") 
- PROPOSED ACQUISITION BY IMEDIA ASIA SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF CATCHA DIGITAL) ("IMEDIA" OR THE "PURCHASER") OF THE REMAINING 49% EQUITY INTEREST IN ITTIFY SDN BHD ("ITTIFY") FOR A CASH CONSIDERATION OF RM3,430,000 ("PROPOSED ACQUISITION")

Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the circular to shareholders of the Company in relation to the Company's regularisation plan ("Regularisation Plan") dated 30 June 2022 (“Circular”). The latest practicable date prior to this announcement is 2 October 2023 (“LPD”).

 

On 3 July 2020, iMedia entered into the Ittify SSA with Tan Guan Sheng and Wong Moo Voon (collectively the “Vendors”) for the acquisition of 51% equity interest in Ittify for a cash consideration of RM2,040,000. This acquisition was completed on 4 August 2020. As at the LPD, Ittify is a 51%-owned subsidiary of iMedia.

 

On 4 August 2020, iMedia entered into the Ittify Call Option Agreement with the Vendors for iMedia to acquire the remaining 49% equity interest in Ittify for a purchase consideration of RM4,018,000, to be satisfied in cash and the issuance of Catcha Digital Shares. The Ittify Call Option Agreement is valid for 3 years from the completion date of the Ittify SSA (i.e. 4 August 2020) until 3 August 2023. As at the LPD, the Ittify Call Option Agreement has lapsed as iMedia and the Vendors were negotiating on a revised purchase consideration for the remaining 49% equity interest in Ittify.

 

The Board wishes to announce that on 9 October 2023, iMedia entered into a new share sale agreement (“New SSA”) with the Vendors for the acquisition of the remaining 980 ordinary shares in Ittify not owned by iMedia (representing 49% equity interest in Ittify) (“Sale Shares”) for a cash consideration of RM3,430,000 (“Purchase Consideration”).

 

Kindly refer to the attachment for further information on the Proposed Acquisition.

 

This announcement is made on 9 October 2023.




Please refer attachment below.



Announcement Info

Company Name CATCHA DIGITAL BERHAD
Stock Name CATCHA
Date Announced 09 Oct 2023
Category General Announcement for PLC
Reference Number GA1-02102023-00079