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Mikro MSC to Acquire 100% Stake in Broadguard for MYR30 Million

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Mikro MSC Berhad (KLSE:MIKROMB) has agreed to acquire a 100% stake in Broadguard for 30 million ringgit to expand into the wholesale and distribution of cables and related products for security and surveillance systems, according to a Wednesday filing to the Malaysian stock exchange.

Under the pact, the purchase consideration will be satisfied entirely through the issuance of around 51.7 million new ordinary shares in Mikro at an issue price of approximately 0.58 ringgit per share.

Upon completion of the proposed acquisition, Broadguard, which is primarily involved in the wholesale of cables and related products for security systems, will become a wholly owned subsidiary of Mikro.

Mikro said the acquisition would complement its existing electrical and electronics (E&E) business, broaden its product and customer base and provide access to Broadguard's customer and supplier network.

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