Ramssol disposes of 40% stake in subsidiary for RM25mil
Ramssol said it would be satisfied by the issuance of consideration shares by Sagtec equivalent to the aggregate value of the disposal consideration.
Rider Gate is a wholly-owned subsidiary of Ramssol and is involved in mobile applications, electronic commerce, and information systems integration.
By undertaking the partial stake sale, Ramssol said it can leverage on Sagtec in terms of capital and operational resources to accelerate the commercialisation of Rider Gate.
'The proposed disposal is expected to accelerate Sagtec's growth strategy through the investment in a ready-made platform to immediately commercialise and monetise a new market.
'In addition, Sagtec's software development capabilities complement the unique requirements for Rider Gate. Its experienced software development team can create tailored solutions, often starting with a comprehensive software development blueprint in the form of a white paper,' said Ramssol.
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