Zen Tech International Berhad (KLSE:ZENTECH) entered into a share sale agreement to acquire 25% stake in Zen Tech International Berhad (KLSE:ZENTECH) from Lim Khai Guan for RM 5.5 million on June 27, 2023. The Purchase Consideration shall be paid by ZTIB to the Vendor in the following manner: (i) RM 3 million has been paid by ZTIB to the Vendors solicitors as deposit prior to the execution of the SSA (Deposit), the receipt of which has been acknowledged by the Vendor; and ;(ii) RM 2.5 million being the balance of the Purchase Consideration (Balance Purchase Consideration), shall be paid to the Vendor by way of electronic transfer or by such other method agreed by the parties to the SSA, in cleared funds on a date within 1 month from the date the last of the conditions precedent of the SSA is fulfilled or waived pursuant to the terms of the SSA. ZTIB had used part of the proceeds from the Rights Issue to fully settle the Deposit and plans to use the additional proceeds raised from the Rights Issue to fully settle the Balance Purchase Consideration.