Dato’ Azmi bin Abdullah completed the acquisition of an additional 51% stake in Forward Energy Sdn Bhd from Dagang NeXchange Berhad.

Dato’ Azmi bin Abdullah signed a letter of intent to acquire an additional 51% stake in Forward Energy Sdn Bhd from Dagang NeXchange Berhad (KLSE:DNEX) for MYR 1 on May 24, 2018. Dato’ Azmi bin Abdullah entered into a conditional share sale agreement to acquire an additional 51% stake in Forward Energy Sdn Bhd from Dagang NeXchange Berhad on December 20, 2018. Under the terms, Dato’ Azmi bin Abdullah will acquire 1.53 million shares of Forward Energy in cash. The transaction is subject to the approval from any governmental or regulatory body or competent authority and third party. The transaction has been approved by the Board of Directors of Dagang NeXchange Berhad. Dato’ Azmi bin Abdullah completed the acquisition of an additional 51% stake in Forward Energy Sdn Bhd from Dagang NeXchange Berhad (KLSE:DNEX) on January 18, 2019.