Emerging Capital Limited made an offer to acquire the remaining 30.77% stake in Triena Investment Public Company Ltd (CSE:TCAP) from SFS Group Public Company Limited (CSE:SFS) and other shareholders for €0.02 million on April 2, 2020. Under the terms of the transaction, Emerging Capital will pay €0.0087 per share of Triena in cash. Triena has an outstanding 2.73 million income shares, 2.73 million Capital Shares and 1.01 million International Shares as of April 1, 2020.

ECL has attained an irrevocable commitment from SFS Group Public Company Limited for the acceptance of the Takeover Bid for 1.01 million International Shares, which represent 75.46% of the International Shares and 15.09% of the total share capital of Triena. In case at the conclusion of the tender offer, ECL was able to acquire more than 90% stake in Triena, ECL does not intend to exercise its right for squeeze out and demand the transfer of the remaining shares. As on May 7, 2020, Emerging Capital Limited acquired 1 million international shares at a nominal value of €0.85 each outside the Cyprus Stock Exhange and holds 83.4% stake in Triena Investment Public Company Ltd. As of May 7, 2020, SFS Group Public Company Limited sold its stake and Emerging Capital Limited holds 84.32% stake in Triena Investment Public Company Ltd. In the case that, with the conclusion of the Takeover Bid the Offeror acquires at least 90% of the total issued share capital of the Company, and consequently of the voting rights of the Offeree Company, the Offeror does not intend to exercise its right for squeeze out.

Furthermore, the Offeror does not intend to proceed with any procedures to delist the Shares from the Cyprus Stock Exchange (the “CSE”). The transaction is subject to the approval of the document by CySec. The deal is approved by Cyprus Securities and Exchange Commission.

The acceptance period of the Takeover Bid commences on May 22, 2020 and expires on the June 22, 2020. Sharelink Securities and Financial Services Limited acted as financial advisor to ECL in the transaction.