Matrix Parking Solution Holdings Berhad (KLSE:MPSOL) entered into a conditional share sale agreement to acquire 40% stake in Smart Integra Tech Sdn Bhd from Mohd Izzuddin Bin Osman, Rafizuddin Bin Ramly and Mohd Hata Bin Hashim for RM 1.4 million on February 7, 2020. Under the terms, Matrix Parking Solution Holdings Berhad will pay RM 0.08 million cash and will issue 8.28 million shares at RM 0.16 per share to acquire 24,000 shares from Mohd Izzuddin Bin Osman, 8,000 shares from Rafizuddin Bin Ramly and 8,000 shares from Mohd Hata Bin Hashim aggregating total shares at 0.04 million shares in Smart Integra Tech Sdn Bhd. Matrix Parking Solution Holdings Berhad will not assume any additional liabilities. Cash portion of the consideration is expected to be funded by internally generated funds. If conditions precedent are not fulfilled for any reason RM 0.01 million only shall be refunded to Matrix Parking Solution. The transaction is subject to approval of financial and legal due diligence on Smart Integra Tech Sdn Bhd, approval of Bursa Securities for the listing of and quotation for the Consideration Shares, approval of the shareholders of Matrix and approvalof any other relevant authorities or parties, if required. The transaction is expected to be completed by the second quarter of 2020. M&A Securities Sdn. Bhd. acted as financial advisor to Matrix Parking Solution Holdings Berhad.