K-One Technology Berhad (KLSE:K1) entered into a share sale agreement to acquire 30% stake in AHM Consultancy & Security Services Sdn. Bhd from Sri Fuziah binti Mohd Nor, Mohammad Fadzllee bin Mustapa and Mohammed Fadzlan bin Mustapa for MYR 8.7 million on March 17, 2017. Under the terms of transaction K-One Technology Berhad will acquire 4.5 million shares of AHM Consultancy & Security Services Sdn. Bhd at MYR 8.7 million and K-One Technology Berhad will pay MYR 0.5 million upon signing of the agreement and the balance of MYR 8.2 million will be paid on completion. The transaction will be funded by internally generated funds of K-One Technology Berhad. K-One Technology Berhad will have the right to nominate one director to board of AHM Consultancy & Security Services Sdn. Bhd. The transaction does not require approval from the shareholders of K-One Tech or the relevant authorities. The transaction is expected to be completed in four months from the date of the agreement. The transaction is expected to have immaterial impact to the earnings per share and the net assets per share of K-One Technology Berhad for the financial year ending 2017. The completion of the transaction is postponed for three months and now expected to close up to October 17, 2017. As on December 29, 2017, the transaction is expected to close before end January 2018. K-One Technology Berhad (KLSE:K1) completed the acquisition of 30% stake in AHM Consultancy & Security Services Sdn. Bhd from Sri Fuziah binti Mohd Nor, Mohammad Fadzllee bin Mustapa and Mohammed Fadzlan bin Mustapa on January 17, 2018. As a result of the transaction, Lim Beng Fook, Chairman of K-One Technology Berhad was appointed to AHM Consultancy's Board.