DRC Investments will not extend Amara Holdings buyout offer

The company offered to privatise Amara Holdings at $0.895 per share.

DRC Investments has decided not to extend its buyout offer for Amara Holdings beyond the closing date of 10 June at 5:30 p.m.

On 28 April, the company proposed to privatise Amara Holdings at an offer price of $0.895 per share.

Amara Holdings electronically disseminated the offeree circular regarding the proposed buyout on 21 May.

The circular includes the advice of the independent financial adviser (IFA) and the recommendation of the board of directors on the offer. W Capital Markets Private Limited was appointed as the IFA.

Shareholders are advised to consult their stockbroker, bank manager, solicitor, or other professional adviser should they be in doubt as to the action they should take.