SAGTEC Withdraws from Proposed Acquisition of Rider Gate
Rhea-AI Summary
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.
Positive
- 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
Negative
- 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
News Market Reaction
On the day this news was published, SAGT gained 1.20%, reflecting a mild positive market reaction. Argus tracked a peak move of +3.4% during that session. Argus tracked a trough of -5.4% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $315K to the company's valuation, bringing the market cap to $27M at that time.
Data tracked by StockTitan Argus on the day of publication.
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?
