CATCHA

0.290

-0.01 (-3.3%)

OTHERS CATCHA DIGITAL BERHAD ("CATCHA DIGITAL" OR THE "COMPANY") - ADDITIONAL INFORMATION ON PROPOSED ACQUISITION BY IMEDIA ASIA SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF CATCHA DIGITAL) ("IMEDIA" OR THE "PURCHASER") OF 30% EQUITY INTEREST IN HEADLINE MEDIA SDN BHD ("HEADLINE MEDIA") FOR A CASH CONSIDERATION OF RM1,235,000 ("PROPOSED ACQUISITION")

CATCHA DIGITAL BERHAD

Type Announcement
Subject OTHERS
Description
CATCHA DIGITAL BERHAD ("CATCHA DIGITAL" OR THE "COMPANY")
- ADDITIONAL INFORMATION ON PROPOSED ACQUISITION BY IMEDIA ASIA SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF CATCHA DIGITAL) ("IMEDIA" OR THE "PURCHASER") OF 30% EQUITY INTEREST IN HEADLINE MEDIA SDN BHD ("HEADLINE MEDIA") FOR A CASH CONSIDERATION OF RM1,235,000 ("PROPOSED ACQUISITION")

Reference is made to the Company’s announcements dated 9 October 2023 and 12 October 2023 in relation to the Proposed Acquisition and Bursa Securities’ query letter dated 11 October 2023 (Ref No. IQL-11102023-00002).

 

The Board wishes to announce the following additional information:

 

1. To state whether shareholders’ approval will be sought, in the event the Post-Completion Sum (as defined in the Announcement) is satisfied by the issuance of new ordinary shares in Catcha Digital (“Catcha Digital Shares”) (“Consideration Shares”). 

 

The Proposed Acquisition is not subject to approvals of the shareholders of Catcha Digital or any other relevant authorities. However, if part of the payment of the Purchase Consideration were to be satisfied by way of the issuance of Catcha Digital Shares, the Company will procure the approval from Bursa Securities for the listing and quotation of the Consideration Shares and the shareholders of the Company at a general meeting (if required).

 

As announced on 12 October 2023, while the option is available for Catcha Digital to pay the Post-Completion Sum via issuance of Catcha Digital Shares, the Company does not intend to embark on this option but rather satisfy the Post-Completion Sum via cash only.

 

 

2. The weighted average market price for Catcha Digital Shares for the 5 market days before the date on which the terms of the Proposed Acquisition were agreed upon. 

 

The 5-day volume weighted average market price ("5D-VWAP”) of Catha Digital Shares up to and including 6 October 2023 (the day prior to the announcement of the Proposed Acquisition) is RM0.5142 each.

 

 

3. The following information in relation to the Consideration Shares that may be issued pursuant to the Proposed Acquisition:

 

(i) the basis of determining the issue price of the Consideration Shares;

 

The Board will determine and fix the issue price of the Consideration Shares in the future based on the 5D-VWAP of Catcha Digital Shares. If the Consideration Shares were to be issued under a general mandate, these shares may not be priced at more than 10% discount to the 5D-VWAP immediately before the price-fixing date.

 

(ii) the ranking of the Consideration Shares; and

 

The Consideration Shares shall upon allotment and issuance, rank equally in all respects with existing Catha Digital Shares, save and except that they shall not be entitled to any dividends, rights, allotments and/or other forms of distributions, the entitlement date of which is prior to the dates of allotment and issuance of the Consideration Shares.

 

(iii) whether listing will be sought for the Consideration Shares. 

 

If issued, the listing and quotation of the Consideration Shares will be sought from Bursa Securities.

 

 

This announcement is dated 13 October 2023.






Announcement Info

Company Name CATCHA DIGITAL BERHAD
Stock Name CATCHA
Date Announced 13 Oct 2023
Category General Announcement for PLC
Reference Number GA1-13102023-00021