Rubberex Corporation (M) Berhad (KLSE:RUBEREX) agreed to acquire Reszon Diagnostics International Sdn. Bhd. from Revongen Corporation Sdn Bhd and Law Eng Lim for MYR 180 million on May 31, 2022. Total purchase consideration of MYR 180 million (subject to adjustments) to be satisfied by a combination of cash of up to MYR 54 million and the balance of MYR 126 million by issuance of 177.690 million new ordinary shares in Rubberex at an issue price of MYR 0.7091 per share and will be subjected to an annual profit guarantee of MYR 50 million for each of the financial years 2022 and 2023. For the Financial year ended 2021, Reszon has Revenue MYR 126.4885 million and Net Income After Tax MYR 15.0647 million. The Cash Consideration shall be funded via the internally generated funds. However, the Company may also use a combination of internally generated funds and bank borrowings to optimise the funding cost, if required. The SSA shall be conditional upon each of the following conditions precedent being obtained, procured and/or fulfilled by the Company and/or the Vendors within 4 months from the execution of the SSA (a) the Company being satisfied with the legal, financial and/or business due diligence findings on Reszon (b) the written approvals of Bursa Securities for the listing and quotation for the Consideration Shares on the Main Market of Bursa Securities (c) the approval of the shareholders of the Company at an extraordinary general meeting to be convened upon execution of the SSA (d) the entry into of a management service agreement between Reszon and Law Eng Lim subject to the terms and conditions to be mutually agreed upon between the parties (e) such other prior written waivers, consents or approvals as may be agreed between the Company and the Vendors that the waivers, consents or approvals is required by any Party from any third party or governmental, regulatory body or competent authority having jurisdiction over any part of the transactions contemplated under the SSA to the effect that if such waivers, consents and approvals are not obtained, the sale and purchase of the Sale Shares herein will be rendered null and void by law. The inter-conditional proposals are expected to be completed by the second half of 2022. On August 5,2022 regulatory board Bursa Securities approved the deal. As of September 14, 2022,at Extraordinary General Meeting (EGM) of Rubberex, the shareholders has granted an unanimous approval for the transaction. The inter-conditional proposals are expected to be completed within the year.