KUALA LUMPUR: G3 International Bhd has secured approval from its shareholders to enterprise into the higher-margin healthcare enterprise, starting with the sale of Covid-19 check kits.
In a press release, the unreal intelligence (AI) specialist mentioned its shareholders at an EGM additionally authorized a money name to develop the healthcare and ICT divisions; the next restrict to difficulty new shares; and the engagement in associated social gathering transactions (RPT).
In response to G3, 4 resolutions had been tabled on the EGM, all of which acquired approval from the voting shareholders.
The primary decision was on the proposed diversification into healthcare-related enterprise, whereas the second decision was on a proposed non-public placement of as much as 432,849,300 new abnormal shares or 20% of G3’s complete issued shares.
The brand new shares will likely be issued to unbiased third-party traders to be recognized at a later stage, and the funds raised will likely be used to broaden G3’s Healthcare and ICT companies.
As well as, the third decision was to extend the restrict for authority to allot and difficulty shares from 10% to twenty%, whereas the fourth decision proposed a brand new shareholders’ mandate for recurrent RPTs.
Managing director Dirk Quinten mentioned the sturdy approval acquired from the shareholders is indicative of their confidence within the administration and the strategic enterprise instructions of the corporate.
“Transferring ahead, G3 will broaden its footprint within the healthcare phase by leveraging on the know-how from our companions – Hong Kong-based SenseTime and Bestinet Group, as we try to be greater than only a check kits provider.
“We’re additionally taking a look at offering tech-driven healthcare help providers to native private and non-private hospitals, which might supply a great recurring revenue stream for the corporate,” he mentioned.
Quinten mentioned that the corporate already has a number of events expressing their curiosity within the non-public placement train as G3 is a forefront AI firm supporting the healthcare sector.
“The possible traders consider within the worth proposition that G3 might convey, particularly after the acquisition of Bestinet Healthcare Sdn Bhd final 12 months,” he added.