PETALING JAYA: PUC Bhd has entered into a heads of agreement for the purchase of the entire equity stakes in Alevate Capital Sdn Bhd and Alevate Solutions Sdn Bhd for RM200mil to be satisfied by cash and shares. The vendors of the companies are Eatcosys Sdn Bhd, a wholly-owned subsidiary of Incite Innovation Sdn Bhd and Tham Lih Chung. Under the terms of the agreement, PUC said in a statement yesterday, that it would settle the first RM100mil of the purchase consideration through the issuance of 800 million PUC shares at 12.5 sen a share. An additional RM7.5mil in cash will be payable once Alevate Capital and Alevate Solutions achieves a pre-tax profit of RM16mil from July 1, 2024, to June 30, 2025. The balance will be subject to achieving a further profit guarantee milestone of RM32mil in pre-tax profit from July 1, 2024 to June 30, 2026.

Source: The Star June 11, 2024 11:34 UTC