Duchess Avenue Pte. Ltd. made a bid to acquire Golden Energy and Resources Limited (SGX:AUE) from PT Dian Swastatika Sentosa Tbk (IDX:DSSA) and others for approximately SGD 480 million on November 9, 2022. Under the terms of exit offer, Duchess Avenue will pay SGD 0.181 per share in cash.

Offer is expected to close on August 15, 2023. The exit offer is conditional upon approval from golden Energy and Resources shareholders. The transaction has been approved by the shareholders of Golden Energy.

As of July 11, 2023. As stated in the Exit Offer Letter, the consideration for the Exit Offer payable by the Offeror is the Revised Exit Offer Price, being SGD 0.181 per Offer Share in cash. W Capital Markets Pte.

Ltd. acted as financial advisor to Golden Energy and Resources. The Central Depository (Pte) Limited acted as transfer agent to Duchess Avenue Pte. Ltd. SAC Capital Private Limited acted as financial advisor to Duchess Avenue Pte.