Since the offeror has received acceptances of over 90%, the offer has been declared unconditional in all respects.
Amara Holdings has lost its free float after shares in public hands fell below the mandatory level of 10%.
As at 6pm on May 15, the company’s offeror received 16.9 million shares or 2.94% in valid acceptances of the offer. This brings its stake to a total of 525.3 million shares or a 91.36% stake. The offeror is an entity backed by multiple parties including Hwa Hong Corp, Wing Tai Holdings (SGX:W05
) and the Teo family controlling Amara Holdings (SGX:A34) .
