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Silver Creek Capital's aggregate shareholding of Auric Pacific stands at 80.04%
IN an update to the Singapore Exchange, Silver Creek Capital - an entity owned by Stephen Riady and son-in-law Andy Adhiwana - has scooped up 3.32 per cent of Auric Pacific shares as at Feb 16.
Together with the 76.72 per cent of the food firm held by concert parties - this includes 49.28 per cent indirectly owned by Mr Riady through Hong Kong-listed Lippo China Resources and 27.44 per cent by Dr Adhiwana via Goldstream - Silver Creek Capital's aggregate shareholding stands at 80.04 per cent.
Once the offeror gets over 90 per cent of Auric Pacific, dissenting minority shareholders will not be able to "put" their shares, potentially closing themselves off from unlocking their investment in the case of a delisting.
The buyout offer of S$1.65 per piece is "final and will not be revised", according to its filing.
Auric Pacific shares closed down 0.5 Singapore cent to end at S$1.65 on Thursday.