SAGTEC Withdraws from Proposed Acquisition of Rider Gate
SAGTEC Global Limited (NYSE:SAGT) has announced the termination of its Share Sale Agreement (SSA) with Ramssol Group Berhad for the proposed acquisition of a 40% stake in Rider Gate Sdn Bhd. The agreement, initially announced on July 18, 2025, and signed on July 14, 2025, has been terminated due to the lack of requisite approval from SAGTEC's Board of Directors.
The termination comes with no financial penalties or compensation requirements for either party. SAGTEC has confirmed that this decision will not adversely impact its financial position or results for the current fiscal year. The company remains open to future strategic collaborations with Ramssol or other potential partners.
SAGTEC Global Limited (NYSE:SAGT) ha annunciato la risoluzione dell'Accordo di Vendita Azionaria (SSA) con Ramssol Group Berhad per l'acquisizione proposta di una quota del 40% in Rider Gate Sdn Bhd. L'accordo, inizialmente comunicato il 18 luglio 2025 e firmato il 14 luglio 2025, è stato annullato a causa della mancanza dell'approvazione necessaria da parte del Consiglio di Amministrazione di SAGTEC.
La risoluzione non comporta penali finanziarie né obblighi di compensazione per nessuna delle parti. SAGTEC ha confermato che questa decisione non influirà negativamente sulla sua posizione finanziaria né sui risultati dell'anno fiscale in corso. L'azienda rimane aperta a future collaborazioni strategiche con Ramssol o altri potenziali partner.
SAGTEC Global Limited (NYSE:SAGT) ha anunciado la terminación del Acuerdo de Venta de Acciones (SSA) con Ramssol Group Berhad para la adquisición propuesta de una participación del 40% en Rider Gate Sdn Bhd. El acuerdo, inicialmente anunciado el 18 de julio de 2025 y firmado el 14 de julio de 2025, ha sido cancelado debido a la falta de la aprobación requerida por parte del Consejo de Administración de SAGTEC.
La terminación no implica penalizaciones financieras ni compensaciones para ninguna de las partes. SAGTEC ha confirmado que esta decisión no afectará negativamente su posición financiera ni los resultados del año fiscal en curso. La compañía sigue abierta a futuras colaboraciones estratégicas con Ramssol u otros posibles socios.
SAGTEC Global Limited (NYSE:SAGT)는 Ramssol Group Berhad와의 Rider Gate Sdn Bhd 지분 40% 인수 제안에 관한 주식 매매 계약(SSA)을 종료했다고 발표했습니다. 이 계약은 2025년 7월 18일에 처음 발표되고 2025년 7월 14일에 체결되었으나, SAGTEC 이사회 승인 부족으로 인해 종료되었습니다.
이번 계약 종료에는 어느 쪽에도 재정적 벌금이나 보상 의무가 없습니다. SAGTEC는 이번 결정이 올해 회계연도 재무 상태나 실적에 부정적인 영향을 미치지 않을 것이라고 확인했습니다. 회사는 앞으로 Ramssol 또는 다른 잠재적 파트너와의 전략적 협력을 계속 열어둘 예정입니다.
SAGTEC Global Limited (NYSE:SAGT) a annoncé la résiliation de son Accord de Vente d'Actions (SSA) avec Ramssol Group Berhad concernant l'acquisition proposée d'une participation de 40 % dans Rider Gate Sdn Bhd. L'accord, initialement annoncé le 18 juillet 2025 et signé le 14 juillet 2025, a été annulé en raison de l'absence d'approbation requise du conseil d'administration de SAGTEC.
Cette résiliation n'entraîne aucune pénalité financière ni obligation de compensation pour aucune des parties. SAGTEC a confirmé que cette décision n'aura pas d'impact négatif sur sa situation financière ni sur ses résultats pour l'exercice en cours. La société reste ouverte à de futures collaborations stratégiques avec Ramssol ou d'autres partenaires potentiels.
SAGTEC Global Limited (NYSE:SAGT) hat die Beendigung des Aktienkaufvertrags (SSA) mit Ramssol Group Berhad für den geplanten Erwerb eines 40% Anteils an Rider Gate Sdn Bhd bekanntgegeben. Der Vertrag, der ursprünglich am 18. Juli 2025 angekündigt und am 14. Juli 2025 unterzeichnet wurde, wurde aufgrund fehlender erforderlicher Zustimmung des Vorstands von SAGTEC aufgehoben.
Die Beendigung erfolgt ohne finanzielle Strafen oder Entschädigungsansprüche für beide Parteien. SAGTEC bestätigte, dass diese Entscheidung keine negativen Auswirkungen auf die finanzielle Lage oder die Ergebnisse des laufenden Geschäftsjahres haben wird. Das Unternehmen bleibt offen für zukünftige strategische Kooperationen mit Ramssol oder anderen potenziellen Partnern.
- No financial penalties or compensation required due to termination
- No adverse effect on financial position or current fiscal year results
- Company maintains flexibility for future strategic partnerships
- Failed acquisition attempt of 40% stake in Rider Gate
- Board of Directors declined to approve strategic expansion opportunity
- Loss of potential immediate market expansion through Rider Gate partnership
KUALA LUMPUR, Malaysia, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Subsequent to the announcement made on 18 July 2025, the Board of Directors of SAGTEC Global Limited (“SAGTEC”) today announced that the Share Sale Agreement (“SSA”) entered into on 14 July 2025 with Ramssol Group Berhad (“Ramssol”) for the proposed acquisition of a
Under the terms of the SSA, completion of the transaction was subject to the fulfilment of certain conditions precedent, including the requisite approval of SAGTEC’s Board of Directors. Having given due consideration, SAGTEC’s Board of Directors did not provide the requisite approval, and accordingly, the said condition precedent was not fulfilled. In line with the SSA provisions, the SSA has ceased to have any further effect, with no penalties or compensation payable by either party.
SAGTEC confirmed that the termination of the SSA will not have any adverse effect on its financial position or results for the current fiscal year, and that it remains open to exploring future collaborations with Ramssol or any other potential partners should a suitable strategic alignment arise.
About Sagtec Global Limited
Sagtec Global is a regional leader in enterprise-grade POS software, AI-integrated digital systems, and secure data infrastructure for Southeast Asia’s fast-evolving retail and service economy. The company’s mission is to empower businesses with intelligent, scalable, and secure technology solutions purpose-built for the digital age.
For more information on the Company, please log on to https://www.sagtec-global.com/.
Contact Information:
Sagtec Global Limited Contact:
Ng Chen Lok
Chairman, Executive Director & Chief Executive Officer
Telephone +6011-6217 3661
Email: info@sagtec-global.com
FAQ
Why did SAGTEC (SAGT) terminate the Rider Gate acquisition deal?
What are the financial implications of SAGT's withdrawal from the Rider Gate acquisition?
When was the original Share Sale Agreement for Rider Gate signed by SAGTEC?
What percentage stake was SAGTEC planning to acquire in Rider Gate?
Will SAGTEC consider future partnerships with Ramssol after the terminated deal?
