FINWIRES · TerminalLIVE
FINWIRES

Alita Resources Board Responds to Unsolicited Off-Market Offer by Clearwater Recovery Partners

By

Alita Resources (SGX:40F) has issued a warning to its shareholders after it received an unsolicited off-market offer for 15.24% of its shares from Clearwater Recovery Partners, according to a Thursday filing with the Singapore Exchange.

Clearwater, which specializes in distressed asset investment, has offered to buy up to 225 million shares in the company at AU$0.0025 per share.

Alita Resources' board believes the offer undervalues the company, with the per-share offer less than the implied per-share value.

Additionally, Clearwater has not conducted an independent legal analysis of the contractual arrangements, and Alita's board has therefore not endorsed or recommended the offer.

Related Articles

Asia

Kim Forest Enterprise Wins NT$110 Million Genome Sequencing Kit Supply Deal

Kim Forest Enterprise (TPE:6645) won a tender to supply whole genome sequencing assay kits to a national hospital in Taiwan under a contract worth NT$110 million, according to a Wednesday Taiwan Exchange filing.Shares slid about 2% in Thursday's late morning trade.The contract runs from June 10, 2026, to Dec. 31, 2028.Kim Forest said the deal is expected to expand its business operations and boost revenue.

$TPE:6645
Asia

Beijing Balance Medical Tech to Buy Back Up to 100 Million Yuan Worth of Shares

Beijing Balance Medical Technology (SHA:688198) plans to repurchase shares worth between 50 million yuan and 100 million yuan, according to a Shanghai bourse filing on Thursday.The company will buy back between 359,583 shares and 719,165 shares, which represents 0.26% to 0.52% of the company's total shares, within 12 months after the approval of the board of directors.The maximum repurchase price will be 139.05 yuan per share.The repurchased shares will be used for the company's employee stock ownership plan or equity incentives.The medical device manufacturer's shares rose 1% during the morning trade.

$SHA:688198
Asia

MediaTek's Sales Edge Up in April; Shares Drop 3%

MediaTek (TPE:2454) booked consolidated net sales of NT$47.4 billion in May, up 1.5% from NT$46.7 billion in April, according to a Wednesday Taiwan Exchange filing.Shares slid about 3% in Thursday's late morning trade.MediaTek did not provide further details in the filing.

$TPE:2454