LHN Group 41O has responded to questions received from shareholders ahead of its extraordinary general meeting (EGM) on Nov 23 in relation to its proposed transfer to the Singapore Exchange (SGX) Mainboard.
In a bourse filing on SGX, LHN provided the estimated annual total listing costs for the proposed transfer of its listing from Catalist to the Mainboard of Singapore Exchange Securities Trading (SGX-ST), as well as the annual listing costs for its dual-listing on the Hong Kong Stock Exchange (SEHK).
According to LHN, the expected Catalist annual listing fee came to $15,000 while the minimum annual listing fee for the SGX Mainboard amounts to $35,000, subject to the final billing from SGX-ST.
Meanwhile, its expected annual listing fee for the SEHK Mainboard came to HK$145,000 ($25,000).
As such, LHN says it does not expect any significant increase in its total annual listing cost with its proposed transfer of the company’s listing from Catalist to Mainboard of the SGX, given that LHN is already listed on the Catalist and the SEHK Mainboard.
The company further explained that its core investor base remains in Singapore, and that its move to the SGX Mainboard is “strategic”, allowing LHN to tap into a wider pool of institutional investors, including, among others, investors who have mandates restricting investment in Catalist-listed companies.
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“The SGX Mainboard listing is anticipated to increase our exposure to these investors and increase our Company’s prestige. Despite the size of the SEHK Mainboard, the sheer number of listed companies there can dilute our visibility,” says LHN.
Shares in LHN closed 1 cent or 3.08% up at 33.5 cents on Nov 17.
