GHL Systems gets take over offer for RM1 per share

PETALING JAYA: GHL Systems Bhd has received a mandatory take over from Actis Stark (Mauritius) Limited for RM1 per share after the latter emerged as the substantial shareholder with a 44.4% stake.
In a filing with the stock exchange, GHL said the offer price represents a 15.3% discount against the five-day volume weighted average price of RM1.18.
The counter fell 9 sen or 7.56% to close at RM1.10 last Friday on some 6.08 million shares done.
Actis acquired a 44.4% stake from Creador's Cycas and GHL executive vice chairman Simon Loh. This represented the exit of Creador with the disposal of the entire 28.3% whereas Loh will remain as a substantial shareholder retaining a 19.1% stake.
Actis has extensive experience in growth markets payments, having invested in and helped build out leading payments platforms that have spanned more than 50 countries.
GHL said Actis' investment into GHL will give it an immediate exposure to the exciting prospects of the fast growing Asean payment space.
The company has appointed AmInvestment Bank Bhd as the independent adviser for the offer and the appointment is subject to the clearance of eligibility by the Securities Commission Malaysia.