KUALA LUMPUR: Shares of Ancom Logistics Bhd
(ALB) went up 130% this morning after the company took over e-government solutions provider.
The counter jumped 130.77%, or 17 sen to 30 sen with 15.8 million shares traded. Ancom Bhd rose 2.6%, or two sen to 79 sen.
Ancom Bhd’s subsidiary, ALB, is acquiring global integrated security solutions provider S5 Holdings Inc via a corporate exercise that will ultimately see a reverse takeover of ALB.
Ancom said it, together with ALB, had entered into heads of agreements (HoA) with S5 Holdings’ existing shareholders, namely S7 Holdings Sdn Bhd, Merrington Assets Ltd, My EG Capital Sdn Bhd and Avocat Sdn Bhd, for the proposed takeover.
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