On May 15, DRC Investments received valid acceptances of over 90%, and the offer was declared unconditional in all respects. The next day the company declared the loss of free float, and submitted an application to the SGX for the approval of its delisting.
The delisting of Amara is subject to the offeror completing the compulsory acquisition; the company making an immediate announcement of the delisting; and a submission of a written confirmation that the company is not aware of any information that will have a material bearing on investors’ decision which has yet to be announced by the company.
