Amara Holdings has appointed Teo Shao-Lynn, Dawn, as its chief operating officer (COO).
Dawn is the daughter of Teo Hock Chuan, the director, CEO and substantial shareholder of Amara Holdings A34 . She is also the niece of Teo Chew Chuan, another substantial shareholder of the group; Teo Geok Tin and Lawrence Mok Kwok Wah, directors of Amara Holdings; as well as Teo Kwee Chuan and Teo Siew Bee, executive officers of Amara Holdings.
Dawn currently serves as the alternate director of the elder Teo, her father.
On Nov 14, 2023, CEO Teo, through Amethyst Assets, made a final cash offer of 60 cents to Amara’s shareholders. The offer was unconditional with the intention of delisting the company from the Singapore Exchange S68 Securities Trading Limited (SGX-ST).
As at the close of its offer on Jan 16, the offerors held a total number of 508.2 million shares or 88.39% of the total number of shares in Amara.
According to the listing manual rules, the trading of shares in Amara will be suspended only when the offeror succeeds in garnering acceptances exceeding 90% of the total number of shares in the company and when the percentage of shares held by the public falls below the requisite 10% of the total shares.
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For the FY2023 ended Dec 31, 2023, Amara Holdings reported earnings of $7.2 million, 11% higher y-o-y. Earnings per share (EPS) for the period rose by 12% y-o-y to 1.25 cents on a diluted basis. The group’s net asset value (NAV) as at Dec 31, 2023, stood at 67.71 cents.
Shares in Amara closed 0.5 cents lower or 0.82% down at 60.5 cents on June 3.
