{
  "id": 5561134,
  "title": "Zetrix AI scraps RM130mil MYEG Ventures deal over share price volatility",
  "url": "https://urgent.news/2026/09/04/zetrix-ai-scraps-rm130mil-myeg-ventures-deal-over-share-price",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-04T12:40:19.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1525835/zetrix-ai-scraps-rm130mil-myeg-ventures-deal-over-share-price"
  },
  "original_language": "en",
  "account": "Zetrix AI has abandoned a RM130 million deal to acquire a 50% stake in MYEG Ventures Inc. just days after signing the agreement, citing volatility in the share prices of both companies. The termination, filed with Bursa Malaysia, came after a significant sell-off in Zetrix AI shares began on August 27, with the stock price dropping from 66 sen to 29.5 sen in just two days. The decline continued, with the shares falling a further 30 sen to 25 sen by September 1, the day the RM130 million deal was signed. By September 2, the shares had dropped another 30% to 17.5 sen, representing a 73.48% decline from their August 26 close of 66 sen. Despite the significant decline, the stock has since recovered slightly, closing at 25.5 sen on the latest trading day. Under the agreement, Zetrix AI was to purchase 15.25 million shares representing a 50% stake in MYEG Ventures for RM130 million, with the purchase price to be made up of cash and up to 360.57 million new Zetrix AI shares issued at a price based on the five-day volume-weighted average market price of Zetrix AI shares prior to issuance. The remaining value of the consideration would have been paid in cash using the company's internally generated funds. Neither party will face any break fees or penalties from the termination, and both are released from further obligations under the agreement. Zetrix AI maintains that the termination is in the best interest of the company and will have no material impact on its paid-up share capital, shareholders' holdings, earnings per share, consolidated net assets per share or financial leverage.",
  "summary": "KUALA LUMPUR: Zetrix AI Bhd has called off its proposed RM130 million acquisition of a 50 per cent stake in Philippines-based MYEG Ventures Inc just three days after signing the deal, citing volatility in its share price.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}