Xamble Group's Increased Shareholding in Xamble Technologies

Xamble Group Limited (ASX:XGL) has announced its agreement to raise its shareholding in Xamble Technologies Sdn. Bhd. from 85.71% to 100.00%. The acquisition involves acquiring a 14.29% stake in XT from Naven Prasad A/L Rajasegaran, with the consideration amounting to a total of MYR100,000 (A$34k1).

Executive Commentary on the Acquisition

The acquisition of the additional stake in Xamble Technologies allows the Group to achieve full control of XT, accelerating the development of the Xamble Creators platform and Xamble Social Wallet. This strategic move aligns with our commitment to providing end-to-end expertise in influencer-centric digital marketing solutions and further strengthens our position in the market.

Summary of Xamble Group's Announcement

Xamble Group Limited (ASX:XGL) has successfully raised its stake in Xamble Technologies, solidifying its control over XT and reinforcing its commitment to advancing the Xamble Creators platform and Xamble Social Wallet. The acquisition, valued at MYR100,000 (A$34k1), positions the Group to capitalize on the Malaysian Digital Acceleration Grant and underscores its dedication to delivering wealth and value to its ecosystem of brands, influencers, and consumers. With the Grant totaling MYR3.59 million (A$1.24 million1) disbursed over a three-year period, Xamble is poised for continued growth and innovation in the influencer-centric digital marketing space.