OCR Group Berhad (KLSE:OCR) signed a heads of agreement to acquire an unknown majority stake in Stack Builder Sdn Bhd from Ong Kah Hoe on April 9, 2021. OCR Group Berhad entered into share purchase agreement to acquire an 50% stake in Stack Builder Sdn Bhd from Ong Kah Hoe on August 2, 2021. The deal value will be paid in stock of OCR Group. The agreement includes proposed acquisition by OCR of up to such number of ordinary shares in Stack Builder to be determined from Ong Kah Hoe for a purchase consideration to be negotiated and agreed upon, proposed settlement of debt owing by Stack Builder to Ong Kah Hoe in the sum to be determined and proposed settlement of debt owing by Stack Builder to Tan Chin Hoong in the sum to be determined in Debt settlement. The parties to the heads of agreement shall enter into the definitive agreements within 2 months from the date of the heads of agreement, subject to mutual agreement of the parties in writing to extend such period. The acquisition of is subject to a legal, financial and commercial due diligence to be conducted by OCR in respect of the accounts, assets, personnel and businesses of Stack Builder. The transaction and the proposed debt settlement to Ong Kah Hoe shall be inter-conditional. The transaction is also subject to approval of shareholders of OCR, the approval of Bursa Securities for the listing and quotation of the Stack Builder consideration shares on the Main Market of Bursa Securities and the approval of any other relevant parties / authorities, if required. As of August 2, 2021, there is a share sale agreement between OCR and the Stack Builder Vendors (?Stack Builder SSA?) for the proposed acquisition by OCR of 50 ordinary shares in Stack Builder from Ong Kah Hoe and 30 ordinary shares in Stack Builder from Tan Chin Hoong, representing a total of 80% equity interest in Stack Builder, for a total purchase consideration (?Stack Builder Purchase Consideration?) of:- (a) RM5,655,640 (if, on the date the Stack Builder SSA turns unconditional (?Stack Builder Unconditional Date?), the development order (i.e. kebenaran merancang) for the Rumah Selangorku Project (as defined in Section 2.1.1 of this announcement) (?Development Order?) has been obtained by Stack Builder); or RM3,588,441 (if, on the Stack Builder Unconditional Date, the Development Order has not been obtained or is obtained but is subject to conditions or varies from the version that was originally submitted to the Shah Alam City Council by Stack Builder), to be satisfied entirely via issuance of new ordinary shares in OCR. As of September 28, 2021, Mercury Securities wishes to announce, on behalf of the Board, that an application has been submitted to Bursa Securities on even date to seek for an extension of time of 2 months until 2 December 2021 to submit the draft circular to Bursa Securities. As of October 4, 2021, the application to Bursa securities for extension of time until December 2, 2021, to submit the draft circular in relation to the proposal has approved. OCR Group Berhad (KLSE:OCR) completed the acquisition of an unknown majority stake in Stack Builder Sdn Bhd from Ong Kah Hoe on November 24, 2021. As of November 24, 2021, The Consideration Shares and Settlement Shares have been issued to the Stack Builder Vendor and is expected to be listed and quoted on the Main Market of Bursa Securities on or before November 26, 2021.