MAS receives revised bid from PK Investments with increased cash

MAS PLC (JSE: MSP) has announced it received a revised bid from PK Investments Limited (PKI) to acquire all outstanding shares of the company. The updated offer includes an increase in the cash consideration from EUR1.10 to EUR1.40 per share and raises the maximum cash amount from EUR80,000,000 to EUR110,000,000. PKI intends to implement "Asset Optimizations" and a "Proposed Asset Realisation" strategy within five years. PKI also plans to procure the return of net proceeds from these initiatives to shareholders. Amendments to the terms of consideration instruments are also planned, increasing the EUR Face Value to EURc1.50, with an annual increase rate of 7%. MAS PLC's board of directors is currently reviewing the new proposal.