Dyna-Mac appoints ZICO Capital as IFA for buyout offer

Hanwha Group offers to acquire Dyna-Mac for $0.60 per share.

Dyna-Mac announced that it has appointed ZICO Capital as the independent financial adviser (IFA) to advise directors of the company on making a recommendation to shareholders regarding the offer.

On 11 September, the company announced that Hanwha Group made a tender offer of $0.60 per share for all Dyna-Mac shares to acquire management control of the company for Hanwha Aerospace and Hanwha Ocean.

A circular with the IFA's advice and directors' recommendation on the offer will be sent to shareholders within 14 days of the offer document's electronic dissemination.

Shareholders are advised to exercise caution and avoid any action on their shares until reviewing the Offeree Circular, including the directors' recommendation and IFA advice.

Dyna-Mac also advises its shareholders to exercise caution when dealing with the company’s shares and consult their advisers when in doubt.