KUALA LUMPUR (April 9): Pertama Digital Bhd (KL:PERTAMA) said it has submitted its proposed regularisation plan to the Securities Commission Malaysia (SC) after revising the terms for two key acquisitions.
The group made the submission on Wednesday (April 8), it said in a statement on Thursday, adding that it also formalised a supplemental letter in relation to its proposed acquisitions of D-Ron Singapore Pte Ltd and D-Ron Malaysia Sdn Bhd.
“Together, these developments mark a clear step forward for the company, signalling disciplined execution, strengthened alignment, and continued progress towards restoring its listing status,” said Pertama Digital.
Pertama Digital’s shares closed flat at 9.5 sen on Thursday, giving it a market capitalisation of RM41.6 million. The counter previously peaked at RM4.65 apiece, with a market capitalisation of RM2.04 billion on November 20, 2023.
In June last year, the group entered into agreements to acquire an 80% stake in each of the video surveillance system companies D-Ron Singapore and D-Ron Malaysia for cash.
According to Pertama Digital's bourse filing, a supplemental letter was later issued to revise aspects of the deal, primarily covering governance, expansion rights, and post-completion arrangements for the D-Ron businesses.
Among the changes, Pertama Digital said it secured a right of first offer to participate in potential business opportunities involving D-Ron’s Thailand operations, including any proposals involving equity interests, new securities issuance or third-party deals. The provision allows the group to evaluate and negotiate participation in such opportunities before they are offered to external parties.
The supplemental letter also outlines conditions governing the use of the D-Ron brand in Thailand, including safeguards to protect its reputation and intellectual property.
Other amendments include extending non-compete and non-solicitation obligations to three years from the completion date, as well as revising the exercise period for call and put options to within 12 months post-completion.