Centurion Corporation OU8 has submitted an application to delist its shares on the Main Board of the Hong Kong Stock Exchange (HKEX).
The company’s board had unanimously approved the proposed delisting on June 5.
According to Centurion, the delisting was due to the costs and utilities needed to upkeep its listing on the HKEX. The volume of trading of Centurion’s shares were also limited on the HKEX.
Following the delisting, Centurion will retain the primary listing of its shares on the SGX-ST.
Shareholders will have the option to hold their Hong Kong shares, although they will not be traded on the HKEX after the last dealing date. They will also be able to deposit their shares with Singapore’s Central Depository (CDP) account and hold their shares, which are listed and can be traded on the SGX-ST.
The proposed delisting will be subject to Centurion’s shareholders’ approval at an extraordinary general meeting (EGM). A circular will be dispatched to Centurion’s shareholders regarding the proposed delisting.
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Shares in Centurion closed flat at 35 cents on June 5.
