SAGTEC Withdraws from Proposed Acquisition of Rider Gate

Core Viewpoint - SAGTEC Global Limited has terminated the Share Sale Agreement with Ramssol Group Berhad for the acquisition of a 40% stake in Rider Gate Sdn Bhd due to the lack of requisite approval from SAGTEC's Board of Directors [1][2]. Group 1: Termination of Agreement - The Share Sale Agreement (SSA) was entered into on 14 July 2025 and was subject to certain conditions precedent, including approval from SAGTEC's Board of Directors [2]. - The Board of Directors did not provide the necessary approval, leading to the cessation of the SSA without penalties or compensation payable by either party [2]. Group 2: Financial Impact - SAGTEC confirmed that the termination of the SSA will not adversely affect its financial position or results for the current fiscal year [3]. Group 3: Future Collaborations - The company remains open to exploring future collaborations with Ramssol or other potential partners if a suitable strategic alignment arises [3]. Group 4: Company Overview - SAGTEC Global is a regional leader in enterprise-grade POS software, AI-integrated digital systems, and secure data infrastructure for Southeast Asia's retail and service economy [4]. - The company's mission is to empower businesses with intelligent, scalable, and secure technology solutions designed for the digital age [4].