Absolute Ambient Sdn. Bhd. (“AASB”) made an unconditional mandatory offer to acquire 36.62% stake in Damansara Holdings Berhad (KLSE:DBHD) MYR 58.3 million on September 14, 2021. Offer price is MYR 0.5 per share in cash. Sindora Berhad and Kulim (Malaysia) Berhad holds 30.08 million shares amounting to 9.45% stake and 13.88 million shares amounting to 4.36% stake respectively. Absolute Ambient Sdn. Bhd. has sufficient financial resources to satisfy full acceptances of the offer. In a related transaction, Absolute Ambient Sdn Bhd entered into a conditional share purchase agreement to acquire 49.57% stake in Damansara Holdings Berhad from Seaview holdings Sdn. Bhd for MYR 78.9 million on September 14, 2021. The offer is not conditional upon minimum level of acceptances. Absolute Ambient Sdn. Bhd. does not intend to maintain the listing status of Damansara Holdings Berhad. Offeror intend to continue the existing businesses of Damansara Holdings. In the event the Offeror receives valid acceptances of not less than nine-tenths in the nominal value of the Shares, the Offeror intend to invoke the provisions of Section 222(1) of the CMSA to compulsorily acquire any remaining Offer Shares. In such instance, all the Offer Shares that are compulsorily acquired will, subject to Section 224(1) of the CMSA, be acquired on the same terms. First closing date of the offer is November 8, 2021. Parties agreed on extension of the Offer. The closing date of the Offer will be no later than December 17, 2021. The offer period is extended till November 22, 2021. As of November 18, 2021, offer period has been extended to December 17, 2021. As of December 10, 2021, AASB acquired 61,800 shares. As of December 13, 2021, AASB acquired 150,700 shares. As of December 14, 2021, AASB acquired 60,800 shares. As of December 15, 2021, AASB acquired 60,900 shares. Low Eng Kiat and Christopher San of CIMB Investment Bank Berhad acted as financial advisors to Absolute Ambient. Malacca Securities Sdn Bhd has been appointed as financial advisor to Damansara Holdings Berhad. Tricor Investor & Issuing House Services Sdn Bhd acted as registrar to Absolute Ambient Sdn. Bhd.