It plans to acquire precision casting and injection moulding specialist AB Technology Sdn Bhd (AB Tech) at an indicative price of RM140 million.
The proposed acquisition is to be fully satisfied by the issuance of GPRO 10-sen share at an issue price of 10 sen.
Assuming the proposed acquisition proceeds at the indicative price and terms, the controlling shareholders of AB Technology - Grand Intergroup Sdn Bhd (GISB) and Whatever Investment Pte Ltd (WIPL) - would emerge as the majority shareholders of GPRO.
The acquisition of AB Tech would transform GPRO into a producer of high precision casting and injection moulding of various advance metals and resins.
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