Serial System/ Achieva

Serial System/ Achieva: Serial System proposed to acquire Achieva to extend its electronic and electrical components distribution business. Both companies intend to enter into a definitive agreement by 31 Jul. The consideration of the acquisition is to be made over two tranches- 60% at NTA as at 30 Jun 2014, while the remaining 40% will be acquired at Achieva's NTA as at 30 Jun 2015. As a gauge, Achieva's NTA as at 31 Mar stood at 6.42¢, 14.6% above its last close. In comparison, Serial currently trades at an 11.4% premium to its NTA.