PK Investments boosts bid for MAS, ups cash offer

PK Investments Limited (PKI) has revised its voluntary bid to acquire all the shares of MAS PLC (JSE:MSP) not already held by PKI. The cash consideration has increased from EUR0.85 to EUR1.10 per share. Correspondingly, the maximum cash amount for the transaction has been raised from EUR40,000,000 to EUR80,000,000. PKI has been meeting with MAS shareholders and reviewing its Voluntary Bid. PKI retains the right to further adjust the cash consideration and/or the maximum cash amount prior to the finalization date, and may amend the terms of the Consideration Instruments prior to the issue date of the Circular. The MAS board of directors is currently reviewing the updated bid.