On Monday, GO plc announced that it completed its acquisition of Klikk Finance plc, the owner of Klikk Limited, the operator of two computer retail outlets servicing both corporate clients and retail customers.
Keeping the market updated through the Malta Stock Exchange, the telecoms company noted that the conditions precedent in relation to the acquisition have been satisfied and 100 per cent of the shares in Klikk have been acquired by the company.
GO had revealed its intention to acquire Klikk Finance in September. By the end of October, GO announced that it had entered into a share purchase agreement. At the time, GO asserted that the conclusion of the transaction was dependent on a number of conditions precedent being satisfied and therefore “may or may not conclude.”
This acquisition represents a significant strategic move for GO, which has been expanding its portfolio beyond telecommunications.
Further to the acquisition, Klikk Finance announced that with effect from Monday 11th November (yesterday), Martin Vella and Gordon Zammit resigned from their positions as Executive Directors of the company.
Gordon Zammit founded Klikk Limited in 2002 and, in addition to his role as Executive Director, he also served as Chief Technology Officer (CTO) within Klikk Limited. The announcement did not mention any changes to Mr Zammit's position as CTO.
Since the company's inception, Mr Zammit had directed and managed the business, driving continuous growth in the IT retail, corporate, and Government sectors. As Chief Technology Officer, he oversaw the development of various websites and web applications for both local and international markets.
Martin Vella meanwhile represented Halmann Vella Group, which had acquired a 75 per cent shareholding in Klikk in 2016.
The Board of Directors thanked both Mr Vella and Mr Zammit for their service to Klikk.
To fill the casual vacancies created by the resignations, the board co-opted Reuben Attard and Elaine Fenech as Non-Executive Directors.
Mr Attard is a finance professional with more than 20 years of experience in financial management, operations, and business development across banking, financial services, hospitality and real estate. He is a fellow of the Association of Chartered Certified Accountants (ACCA) and of the Malta Institute of Accountants (MIA).
Mr Attard’s directorships for the past five years, all of which remain current, are with GO Infrastructure Services Ltd, GO Ventures Ltd, Cybersift Ltd, and Loqus Holdings plc.
Meanwhile, Ms Fenech has held senior management positions for more than 20 years and is responsible for GO’s business arm across all segments of business – corporate clients, small and medium organisations and SOHOs.
She is highly experienced in B2B relationship building, product development, implementation of strategy through meticulous tactical planning, process setting and review, through the product life cycle. Ms Fenech holds a management degree with specialisation in both accountancy and marketing and is an accredited trainer by the London School of Protocol.
Furthermore, the company additionally announces that the Audit Committee now consists of Michael Borg Costanzi, and Reuben Attard, with Mario P Galea retaining the position of Chairman of the committee.
Klikk also shared that the Directors of the company resolved to change the registered office of the Company to ‘GO, Tarxien Road, Żejtun ZTN 3000, Malta.’
