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SRS Auto Holdings raises Allied Tech offer price to S$0.011 

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Sharanya Pillai

Sharanya Pillai

Published Thu, Aug 4, 2022 · 08:50 AM
    • SRS Auto is wholly owned by Tan Yew Kiat, who founded women’s apparel chain bYSI.
    • SRS Auto is wholly owned by Tan Yew Kiat, who founded women’s apparel chain bYSI. PHOTO: BT FILE

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    PRIVATE car rental and motor financing company SRS Auto Holdings has sweetened its offer price for Allied Technologies from S$0.0088 to S$0.011 per share, it announced on Wednesday (Aug 3) after trading hours.

    The new offer matches the S$0.011 price at which Allied Tech last traded in 2019. Its shares have since been suspended amid the saga revolving around alleged misappropriation of escrow funds.

    The new price is final and will not be revised under any circumstances, SRS Auto added. Shareholders who have earlier accepted the offer are entitled to the revised price.

    As The Business Times previously reported, SRS Auto is wholly owned by Tan Yew Kiat, who founded women’s apparel chain bYSI, with an issued and paid-up share capital of S$6.2 million.

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