iCar Asia: Receives final acquisition offer from Carsome

iCar Asia Receives final acquisition offer from Carsome

• iCar Asia (ICQ) has received a “best and final offer price” letter share for its acquisition by Carsome
• The letter reaffirms the bid price at $0.53 per share by way of a Scheme of Arrangement
• A scheme meeting is scheduled for January 31 and the board recommends shareholders vote in favour of the bid in the absence of a superior proposal
• In the non-binding indicative proposal from July last year, the share purchase price was proposed at $0.55 in cash per share
• iCarAsia shares dropped 0.96 per cent and were trading at 51.5 cents