Nexgram buys 70% Sensorlink for RM28.60m

PETALING JAYA: Nexgram Holdings Bhd proposes to acquire a 70% stake in Sensorlink Holdings Sdn Bhd, which comes with a profit guanratee, for RM28.60 million.
In a filing with Bursa Malaysia, it said that the purchase consideration will be satisfied entirely via issuance of 190.67 million new Nexgram shares at an issue price of 15 sen per share.
Under the profit guarantee agreement, Sensorlink's net profit for the financial year ending Dec 31, 2014 and Dec 31, 2015 should not be less than RM4.2 million and RM4.5 million, respectively.
Sensorlink is involved in the import and distribution of security and video surveillance equipment.