Australia's Damstra falls most in 3-1/2 years as Mitratech withdraws buyout plans

Damstra Holdings

10/11/2023 01:14

** Shares in Damstra Holdings  DTC.AX  slip as much as 23.4%
to A$0.180, their biggest intraday percentage loss since March
2020 
    ** The software co says proposal received from larger peer
Mitratech Holdings has been withdrawn
    ** Says following withdrawal, co has engaged with another
interested party - software solutions provider Ideagen Limited -
to buy Damstra for an offer price of A$0.27 per share 
    ** Deal value under Ideagen offer lower than Mitratech's
offer of A$0.30 per share 
    ** Shares hit their lowest level since Oct 23 
    ** More than 2.7 mln shares change hands, compared with the
30-day average volume of ~1.1 mln shares  
    ** Damstra stock up 80.8% this year, as of last close, vs a
0.3% decrease in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))