Rev Asia Berhad (KLSE:REV) entered into a share sale agreement to acquire iMedia Asia Sdn Bhd from iCreative Asia Sdn Bhd and Catcha Investments Ltd for MYR 11.2 million on August 28, 2020. iCreative Asia Sdn Bhd sold 1,150 shares. Catcha Investments Ltd sold 1,350 shares. The consideration will be fully satisfied through the issuance of 40 million new ordinary shares in Rev Asia Berhad. As reported on January 14, 2021, application in relation to the proposed regularization plan together with the listing application for the new securities to be issued pursuant to the same has been withdrawn on January 14, 2021 and will be resubmitted by January 22, 2021.
As of January 22, 2021, the application for the new securities has been resubmitted to Bursa Securities. As of March 18, 2021, Rev Asia Berhad, iCreative Asia Sdn Bhd and Catcha Investments have mutually agreed to extend the conditional period for a period not later than 31 May 2021 to fulfill the conditions precedent (“Extended Conditional Period”) pursuant to the agreement. As of March 31, 2021, Rev Asia Berhad, iCreative Asia Sdn Bhd and Catcha Investments have mutually agreed to extend the conditional period for a period not later than 31 August 2021 to fulfill the conditions precedent (“Extended Conditional Period”) pursuant to the agreement.
As of May 31, 2021, Rev Asia Berhad, iCreative Asia Sdn Bhd and Catcha Investments have mutually agreed to extend the conditional period for a period not later than August 31, 2021 to fulfill the conditions precedent (“Extended Conditional Period”) pursuant to SSA. As of July 16, 2021, Rev Asia Berhad intends to seek its shareholders' approval to withdraw RM1,600,000 from the amount placed in the account operated by Pacific Trustees Berhad at the forthcoming extraordinary general meeting.

As of August 13, 2021, Bursa Securities had rejected the Proposed Regularisation Plan as its Sponsor has not demonstrated to the satisfaction of Bursa Securities the ability of the Proposed Regularisation Plan to comply with Chapter 3 and Guidance Note 18 (“GN18”) of the ACE Market Listing Requirements (“ACE Market LR”). TA Securities Holdings Berhad acted as financial advisor for Rev Asia Berhad. As on November 12, 2021, entered into the third amended and restated share sale agreement in respect of the purchase consideration. Catcha Digital agrees to, subject to Completion, make the payments up to the amount 50% of the total purchase consideration for each Future Acquisition; or up to a maximum of MYR 4.5 million in aggregate for the Future Acquisition, whichever is lower.

If payment of all or part of the purchase consideration has been made by iMedia to the respective vendors for any of the Future Acquisitions prior to Completion Date, and subject always to Completion, Catcha Digital agrees to repay iMedia's creditors who advanced any such sums paid to the vendor(s) for the Future Acquisition, within six months from Completion Date; or within thirty days from completion of the proposed regularization plan which includes a fund raising exercise by Catcha Digital, whichever is earlier. Save for the above, all other terms and conditions of the SSA and all other instruments and agreements executed, delivered or entered into thereunder or pursuant thereto remain unchanged.

As of September 1, 2021, Rev Asia Berhad, iCreative Asia Sdn Bhd and Catcha Investments had, on August 30, 2021, mutually agreed to extend the Conditional Period to a period not later than November 30, 2021 to fulfill the Conditions Precedent pursuant to the SSA. As of November 29, 2021, the parties mutually agreed to extend the Conditional Period to a period not later than March 31, 2022 to fulfill the Conditions Precedent pursuant to the SSA. TA Securities Holdings Berhad acted as financial advisor to Rev Asia Berhad in the transaction. As of March 30, 2022 the deal is expected to close on June 30, 2022. As of September 20, 2022, The Rev Asia Berhad submitted an application to Bursa Securities for an extension of time of an additional six months from October 5, 2022 to April 5, 2023 to complete the Proposed Regularisation Plan. The Application is subject to the approval of Bursa Securities. On behalf of the Board, TA Securities and Malacca Securities wish to announce that the Company and the Vendors have, on 14 December 2022, mutually agreed to extend the Conditional Period to a period not later than January 13, 2023.

Catcha Digital Berhad (KLSE:CATCHA) completed the acquisition of the entire equity interest of iMedia Asia Sdn Bhd from iCreative Asia Sdn Bhd and Catcha Investments Ltd for MYR 11.2 million on March 7, 2023.