Amara Holdings' share price surge in relation to possible transaction that may lead to offer for company’s shares

Amara Holdings (SGX:A34) on June 18, announced that a possible offer for the shares of the company may be made.

On June 17, the board received a written notification from Amara’s executive directors, siblings Albert Teo Hock Chuan and Susan Teo Geok Tin, to say that they and certain of their family members are currently engaged in confidential discussions with a third party. The discussions are in relation to a possible transaction that may or may not lead to an offer for the shares of the company. Albert Teo is also Amara’s CEO while Susan Teo is the company secretary.