3HA Capital raises CosmoSteel offer to final price of $0.25

This revised price represents a 25% increase.

Evolve Capital Advisory, on behalf of 3HA Capital Private Limited, has raised its voluntary conditional cash offer for CosmoSteel Holdings to a final price of $0.25 per share, up from the initial $0.20.

This revised price represents a 25% increase and exceeds the company’s highest closing share price in over a decade.

Evolve confirmed that this will be the final offer price, with no further revisions.

Shareholders who have already accepted the offer will receive the final price, subject to the offer becoming unconditional. No additional action is needed from those who have submitted valid acceptances.

The revision follows a review of the independent financial adviser’s report to the Independent Directors, which provided a valuation range for CosmoSteel shares.

Since the offer was first announced, CosmoSteel shares have traded below the revised price, even amid increased market activity and on-market purchases by related parties.

The offeror highlighted this as evidence of persistent liquidity constraints.

3HA Capital said the revised offer provides shareholders a clear and immediate exit at a premium, avoiding brokerage fees and offering certainty amid thin trading.

All other terms of the offer remain unchanged.

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