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BRIEF-SMTrack to acquire Wellspring Worldwide Ltd
June 15, 2017 / 12:11 PM / in 6 months

BRIEF-SMTrack to acquire Wellspring Worldwide Ltd

June 15 (Reuters) - SMTrack Bhd:

* Announces acquisition of 100% equity interest of Wellspring Worldwide Ltd for a total purchase consideration of 310 million rgt

* Proposes a renounceable rights issue of up to 169 million new smtrack shares on the basis of 3 rights shares for every 2 existing SMTrack shares held

* Proposed rights issue of shares not expected to have immediate material effect on consolidated earnings of group for FY ending 31 July 2017 Source text (bit.ly/2rzeTeE) Further company coverage:

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