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Amara CEO Albert Teo and family offer 60 cents per share in unconditional cash offer

Bryan Wu
Bryan Wu • 3 min read
Amara CEO Albert Teo and family offer 60 cents per share in unconditional cash offer
The offer consideration represents a 70.5% premium over the volume-weighted average price (VWAP) for the shares traded in Amara over the past one month.
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The family of Amara Holdings A34 CEO Albert Teo, through Amethyst Assets, has made a final cash offer of 60 cents to the shareholders of Amara A34. The final offer will be unconditional in all respects, with the intention of delisting the company from the Singapore Exchange (SGX:S68) Securities Trading Limited (SGX-ST).

Amethyst Assets, a special purpose vehicle majority owned by Teo and his siblings, Susan Teo, Teo Kwee Chuan and Corinne Teo, made an offer to acquire all the shares that the Teo family does not already own in the company.

As at Nov 14, Amara had an issued and paid-up share capital comprising 574.97 million shares, which excludes the 1.97 million treasury shares. As at the same date, Amethyst Assets and its shareholders had executed irrevocable undertakings in favour of the offeror. The Teos’ stake totals some 302.3 million shares, representing a 47.42% stake in Amara.

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