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Based on FY2024 audited financials, MYEG Ventures failed to secure a remittance license from the Bangko Sentral ng Pilipinas (BSP). As a result, it operates purely as a holding company for the 51% stake in MYEG Philippines.
As of December 31, 2024, total shareholder equity stood at just 111.7 million PHP (roughly RM 8.5 million to RM 9.0 million), carrying accumulated losses of 3.07 million PHP.
Based on the reported figures, the acquisition price represents a 2,789% to 2,959% premium
The company clarified that MYEG Ventures holds a 51% stake in MYEG Philippines, correcting the previously misstated figure of 60%.
Final Ownership Structure: Zetrix AI already directly holds 49% of MYEG Philippines. By acquiring a 50% stake in MYEG Ventures (which translates to an indirect 25.5% stake), Zetrix AI’s combined effective ownership in MYEG Philippines will reach 74.5%, officially making it a controlled subsidiary.
Another 360m new shares to be issued (5-day weighted average market price) and balance to be paid by CASH (high if based on current market price of 22 Sen or even lower).
