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VCI Global Limited (NASDAQ:VCIG) ("VCI Global" or the "Company"), today announced the rescission of its previously announced acquisition of 20% equity stake in QuantGold Data Group Limited ("QuantGold"), resulting in the cancellation of associated shares and a more efficient capital base.
Following an internal and strategic review, VCI Global's board determined that the proposed acquisition would not deliver optimal value for shareholders. The Company has therefore initiated formal proceedings to rescind the transaction and cancel all shares previously allocated for this acquisition, resulting in a reduction in outstanding share count and enhanced earnings per share potential.
Posted In: VCIG
