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GHL shareholders approve e-pay Asia acquisition

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GHL shareholders approve e-pay Asia acquisition Empty GHL shareholders approve e-pay Asia acquisition

Post by Cals Mon 10 Feb 2014, 13:28

GHL shareholders approve e-pay Asia acquisition
Business & Markets 2014
Written by Charles Yong of theedgemalaysia.com   
Monday, 10 February 2014 13:12

KUALA LUMPUR: GHL Systems Bhd has received unanimous approval from its shareholders for the acquisition of Australia-listed e-pay Asia Ltd, said CEO Raj Lorenz.

“We expect to have a controlling stake in e-pay by the end of February this year, provided the Securities Commission gives us approval,” he told reporters.

GHL’s largest shareholder, Simon Loh, owns 60% of e-pay.

Shareholders also approved two other proposals during an extraordinary general meeting (EGM) today: to exempt Loh from any obligation to extend a mandatory takeover offer following the acquisition, and to issue Cycas, a Mauritius-based private equity firm, new GHL shares equivalent to 20% of its enlarged issued and paid-up share capital.
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