PETALING JAYA: Matrix Parking Solution Holdings Bhd is proposing to acquire a 40% stake in Smart Integra Tech Sdn Bhd for a total of RM1.4 million, which will be satisfied via RM75,000 in cash and an issuance of 8.28 million shares at 16 sen apiece.
In a Bursa Malaysia filing, Matrix said it is also proposing to undertake a private placement of up to 40 million new shares representing up to 20% of the issued shares in Matrix, raising estimated gross proceeds of RM6.4 million, based on the indicative issue price of 16 sen a share.
“The proposals offer an opportunity for Matrix to bolster its current portfolio of parking facilities and enhance its profile as a parking solutions provider by integrating with a technologically advanced parking management system which focuses on street parking management,” it said.
It also noted that Smart Integra plans to develop a parking management system which aims to integrate several functions and platforms such as payment, purchase of tickets, ancillary payment services, as well as advertisement.
The implementation of this system is expected to improve the management of the public parking facilities in Seremban.
“ Through this arrangement, Matrix targets to expand its reach to Seremban and gain access to new technology which is expected to be synergistic to its existing and future parking operations,” it added.
The proposals are expected to be completed by the second quarter of 2020.
