RE:Take under offer by the majority owner of Avarga found this newsfeed on the offer price for Avarga...kindly keep us posted on what this independant board has to say...thank-you...dwdc
The offer represents a 22 per cent premium over the last traded price on Nov 8 of S$0.205, and a 23.8 per cent premium over the volume-weighted average price (VWAP) for the one-month period till Nov 8. The premium over the VWAP for the three-month period was 24.3 per cent, for the six-month period was 26.5 per cent and the 12-month period was 33.9 per cent.
The offeror said that the offer represents shareholders with an exit opportunity to realise their holdings in cash at a premium without incurring brokerage and other trading costs. TKO intends to carry on the existing business of the company, but reserves the right to consider options or opportunities that may present themselves. The offeror does not intend to preserve the listing status of Avarga following the completion of the offer, and will exercise its rights of compulsory acquisition.