Amos Group loses free float as PeakBayou and allies hold 91.06%

PeakBayou aims to take the company private.

Amos Group has lost its free float as the shareholding of its controlling shareholder, PeakBayou, and allied parties increased to 91.06%.

Their shares increased as PeakBayou received valid acceptances of 7.89%, or 16,439,678 shares, for its offer to acquire all remaining shares in Amos Group that it does not own at $0.070 per share.

The valid acceptances pushed their shares owned, controlled, acquired or agreed to be acquired by PeakBayou to 77.74% from 69.85%.

Parties acting in concert with Peakbayou hold a 13.32% stake in the company.

The company has extended the closing of its offer to 21 November, 5:30 p.m., from 7 November.

Meanwhile, as the company's public float has fallen below the 10% requirement under SGX-ST rules, the bourse may suspend trading of Amos Group shares at the close of the offer.