Date Published: 24 October 2017
The Team Advising On The Transaction: Ge Xiaomeng and Stephen Soh.
CNPLaw LLP (“CNP”), formerly known as Colin Ng & Partners LLP, is advising mainboard-listed Silverlake Axis Ltd (“SAL“), a banking software solutions provider, on its proposed acquisition of three Malaysian incorporated Silverlake private entities as part of its ongoing efforts to position itself as a fintech innovation accelerator and to enhance its current standing as the region’s leading and most successful core-banking solution provider.
The three companies – Silverlake Digital Economy, Silverlake Digitale and Silverlake One Paradigm – are each 70 percent owned by the group’s executive chairman and controlling shareholder, Mr Goh Peng Ooi. The consideration for the acquisition comprises a fixed base consideration, totalling RM 154.9 million, to be satisfied via the issue of new shares at S$0.71 per share, being a premium to the current market price, together with a variable performance-based earn-out consideration, wherein the aggregate consideration shall be capped at 25% of SAL’s market capitalisation, based on the agreed issue price.
GENERAL DISCLAIMER
This article is provided to you for general information and should not be relied upon as legal advice. The editor and the contributing authors do not guarantee the accuracy of the contents and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the contents.
