Goodhope Asia Holdings Ltd. agreed to acquire the remaining 12.856% stake in Indo-Malay PLC (COSE : INDO.N0000) in a tender offer transaction for approximately LKR 1.74 billion on May 17, 2023. The consideration per share price is set to be LKR 2,805. The acceptance period for the Offer will commence on August 29, 2023, and end twenty one calendar days thereon until the closing date on September 18, 2023.

The transaction is subject to regulatory & Target Shareholder approval. As on June 19, 2023, shareholders of INDO also approved the purchase by the majority shareholder, GAHL, of the shares held by the Shareholders who may wish to sell their shareholding in INDO, at LKR 2,805/- per share. As on August 08, 2023, Securities and Exchange Commission of Sri Lanka has granted approval for the de-listing of INDO.

The Shareholders will not be obliged to accept the Exit Offer and the Shareholders who wish to retain their respective shareholdings in the Company will be entitled to do so. It should be noted that the Shareholders may accept the Offer in full or part of the respective shares held by them in the Company. As of September 15, 2023, Goodhope Asia Holdings Ltd. extend the Closing Date of the Exit Offer to October 10, 2023.

NDB Investment Bank Limited acted as manager to the offer and Central Depository Systems (Pvt) Ltd. acted as the registrar to Goodhope Asia Holdings Ltd.