Systech gets shareholders’ nod for capital exercise

TheStar Fri, Apr 19, 2024 12:00am - 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 EGM yesterday.

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 RM75mil 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 has described the proposals as a cornerstone of the company’s transformation journey.

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