Asia-Env

Asia-Env: Offer for shares at either $0.30 per share or 1-for-1 swap for offeror Ciena Enterprises. Offeror is a BVI vehicle of major sh/h's brother. Mr Wang H.C. Ciena has secured 52.8% of co accepting the offer and intends to delist co. Last traded price of co is $0.225 and offer represents a 33% premium but disc to NAV of $0.309. The reason cited was the low liquidity in the counter.