GFM Services Berhad entered into a share exchange to acquire asiaEP Resources BHD (KLSE: ASIAEP) in a reverse merger transaction on April 30, 2013. Under the transaction, GFM Services will acquire 40.5 million shares of AsiaEP for 17.6 million new shares of GFM Services on the basis of one share each for 2.3 ordinary shares of AsiaEP Resources. The Board of AsiaEP is of the opinion that the exchange ratio is fair. In related transactions, GFM Services is acquiring GFM Solutions Sdn Bhd and Global Facilities Management Sdn Bhd. Upon completion, the existing shareholders of AsiaEP Resources will hold 4.11% stake in GFM Services. Further GFM Services will get the listing status in ACE Market of Bursa Malaysia Securities Berhad in place of AsiaEP Resources. The acquisition of AsiaEP Resources is subject to delisting of AsiaEP Resources, approval-in-principle for the listing of the enlarged issued and paid-up share capital of GFM Services and completion of the related transactions and the completion of the composition of the proposed regularization plan as stipulated in the agreement. On July 11, 2013, Board of AsiaEP has submitted an application to relevant regulatory authorities for approval of the regularization plan. On November 5, 2014, Bursa Securities, resolved to approve the admission to the official list of the enlarged share capital. On December 1, 2015, the completion of the regularization plan was extended to June 30, 2016. On March 2, 2016, the transaction was further extended to November 15, 2016. On October 21, 2016, AsiaEP Resources submitted an application to Bursa Securities seeking its approval for an extension of time until January 9, 2017, for the completion of the Proposed Regularisation Plan. On December 18, 2015, the Board of AsiaEP, announce that the Equity Compliance Unit of the SC given its approval for the application proposed regularisation plan. On December 17, 2015, Equity Compliance Unit of the SC given its approval for the application for the Proposed Regularisation Plan. On behalf of AsiaEP, KAF Investment Bank Berhad wishes to announce that AsiaEP Resources had, on August 11, 2016, received the sealed order of the Court dated August 8, 2016, granting leave for AsiaEP Resources to convene the meeting with its members in relation to the Proposed Share Exchange and the Proposed Transfer of Listing Status. September 15, the shareholders of AsiaEP Resources approved the transaction. On October 21, 2016, AsiaEP Resources submitted an application to Bursa Securities seeking its approval for an extension of time until 9 January 2017 for the completion of the Proposed Regularisation Plan. KAF Investment Bank Berhad acted as the financial advisor for AsiaEP Resources. GFM Services Berhad completed the acquisition of asiaEP Resources BHD (KLSE: ASIAEP) in a reverse merger transaction on January 9, 2017.