Kingston Asset Management Ltd made an offer to acquire remaining 40.19% stake in Lavastone Ltd (MUSE:LAVA.I0000) for MUR 480 million on September 6, 2021. Under the terms the offer price is MUR 1.76 per share. In a related transaction, Kingston Asset Management Ltd acquired an additional 29.8% stake in Lavastone Ltd for approximately MUR 360 million on September 6, 2021. Prior to tender offer Kingston Asset Management Ltd held 59.8% stake in Lavastone Ltd. Kingston confirms that sufficient financial resources are available to Kingston to satisfy the acceptance of the Mandatory Offer, there exists no agreement between Kingston and Lavastone in relation to the relevant shares, the Mandatory Offer is not subject to any condition and there is no intention to change the business plans or strategy of Lavastone nor to delist Lavastone from the DEM of the SEM. Offer will open on October 1, 2021 and will close on November 5, 2021.