Shian Hwee Cheng entered into a share sale agreement to acquire Macpie Distribution Sdn. Bhd. from Xox Networks Berhad (KLSE:XOXNET) for MYR 0.1 million on September 2, 2022. As a part of transaction, Xox Networks is selling 3 million shares. The transaction is conditional upon XOX Networks complying to any requirements required by any laws, rules and regulations of Bursa Malaysia Securities Berhad and obtaining all necessary approvals to carry out and complete the sale and purchase of the Sale Shares pursuant to terms of the SSA, including the approval of its shareholders. Xox Networks Berhad intends to utilise the proceeds from the Disposal as working capital. The transaction is expected to complete within 30 days.

Shian Hwee Cheng Completed the acquisition of Macpie Distribution Sdn. Bhd. from Xox Networks Berhad (KLSE:XOXNET) on September 2, 2022.