VCI Global Cancels QuantGold Acquisition, Strengthening Balance Sheet After Reverse Split

KUALA LUMPUR, Malaysia, Sept. 17, 2025 (GLOBE NEWSWIRE) – VCI Global Limited (NASDAQ: VCIG) has announced the withdrawal of its previously planned acquisition of a 20% stake in QuantGold Data Group Limited. The company has initiated formal rescission procedures and will cancel all shares originally earmarked for the deal, resulting in a reduced share count and improved earnings per share metrics.

Strategic Recalibration and Board Decision

Following a comprehensive strategic and financial review, VCI Global’s board concluded that the proposed QuantGold acquisition would not generate sufficient shareholder value. The decision to unwind the transaction and eliminate the associated share allocation demonstrates the company’s commitment to disciplined capital management, particularly in the wake of completing a reverse stock split.

Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer, commented: “This rescission reflects our focus on maintaining a streamlined capital structure as we accelerate our cybersecurity expansion through V Gallant. By tightening our share base, we can channel resources toward initiatives with clearer strategic returns.”

Material Issues Underlying the Transaction Withdrawal

The acquisition framework involved QuantGold’s contemplated purchase of Secure Encryption Storage Limited (SES) along with associated intellectual property assets valued at HKD 10 million. However, during VCI Global’s due diligence process, a critical discrepancy emerged: SES does not hold the previously claimed portfolio of 129 patents that formed a foundational element of the transaction structure.

This patent deficiency—representing a core component of the original deal rationale—was instrumental in VCI Global’s determination to pursue the rescission. Since the anticipated acquisition of SES never proceeded, the broader QuantGold transaction no longer aligned with the company’s investment criteria.

Intellectual Property Clarifications and Strategic Positioning

VCI Global clarifies that no proprietary technologies or intellectual property related to QuantGold have been transferred or assigned to the company. This preservation of flexibility enables VCI Global to selectively pursue more strategically aligned partnerships with technology providers.

Moving forward, VCI Global will advance its cybersecurity operations through its existing V Gallant distributorship with SES and complementary technology partners. This focused approach accelerates market entry while maintaining optionality to collaborate with industry-leading technology firms.

Company Overview

VCI Global Limited operates as a multi-sector technology and financial platform developer, emphasizing artificial intelligence, encrypted data infrastructure, digital treasury systems, and next-generation capital markets solutions. The company integrates technological advancement with financial architectures to serve enterprises, governments, and institutions navigating the digital economy landscape. VCI Global’s platform strategy targets high-growth sectors through scalable solutions designed for resilience and operational efficiency.

For additional company information: [enquiries@v-capital.co]

Forward-Looking Statements Disclosure

This announcement includes forward-looking statements regarding VCI Global’s operational expansion, profitability trajectory, and market positioning. Such statements may employ language including “intends,” “expects,” “plans,” “projects,” “estimates,” or similar terminology. These projections are contingent on current expectations and market conditions but are subject to risks and uncertainties beyond the company’s control, including competitive pressures, customer adoption dynamics, macroeconomic factors, regulatory developments, and supply chain dependencies. Actual outcomes may materially differ from stated projections. Investors should not place undue reliance on these forward-looking statements. The company assumes no obligation to revise these statements except as required by applicable securities regulations.