Systech gets shareholders’ nod to proceed with capital exercise

TheStar Thu, Apr 18, 2024 05:35pm - 1 month View Original


KUALA LUMPUR: Information technology (IT) solutions company Systech Bhd forges ahead with its transformation plan as the company received shareholders’ nod for its capital exercise proposals at its extraordinary general meeting (EGM) today.

Systech focuses on human capital management solutions and cybersecurity.

The proposals included a share issuance of up to 144 million new ordinary shares, the acquisition of the entire equity interest of Wilstech Sdn Bhd for RM75 million and a bonus issue of up to 160.7 million new warrants in Systech on the basis of one warrant for every four existing shares.

Executive director Teoh Keng Chang described the proposals as a cornerstone of the company’s transformation journey.

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