Major shareholder makes exit offer for Gems TV
Offer of 0.408 cents per share matches NTA per share as at March 31
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THE major shareholder of suspended Gems TV Holdings is offering 0.408 cents per share to delist the former TV retailer, a month after a planned reverse takeover fell through.
Gems' executive chairman Jason Choo, through his private vehicle Mounting Holdings, priced his offer to match the 0.324 US cents-per-share net tangible asset (NTA) of the company as at March 31, 2014. This values the company at about $4.2 million.
Gems shares last traded at 0.3 cent on March 27 before being suspended.
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