Ossia appoints Asian Corporate Advisors as IFA for privatisation offer
Ossia International has appointed Asian Corporate Advisors as the independent financial adviser for its privatization offer. The Goh siblings have proposed a cash offer of $0.16 per share, which is a 41.6% premium over the last traded price of $0.113. A circular with the IFA's advice and directors' recommendation will be sent to shareholders within 14 days. Ossia advises shareholders to exercise caution and consult their advisers regarding the offer.
The Goh siblings offer $0.16 for each Ossia share.
Ossia International (Ossia) has appointed Asian Corporate Advisors as the independent financial adviser (IFA) to advise directors of the company on making a recommendation to shareholders regarding a buyout offer.
On 15 May, controlling shareholders Goh Ching Wah, Goh Ching Huat, and Goh Ching Lai made a voluntary, unconditional cash offer to acquire all the issued and paid-up ordinary shares in Ossia at $0.16 each.
The offer price represents a 41.6% premium over the last traded price of $0.113 on 9 May, before Ossia requested a trading halt on 13 May.
A circular with the IFA's advice and directors' recommendation on the offer will be sent to shareholders within 14 days of the offer document's electronic dissemination.
Ossia advises its shareholders to exercise caution when dealing with the company’s shares and consult their advisers when in doubt.
