This means minority shareholders, some 1,400 of them, who have held on to the shares since trading was suspended on Nov 2020, would not have a ready platform to trade their shares when the delisting goes ahead.
Metal alloy parts supplier, Nico Steel, on the SGX watch list since Sept 2016, has been directed by the exchange to delist. The company has called for an EGM on June 30, to seek shareholders’ approval to delist without an exit offer.
The company’s executive chairman Danny Tan says he has no means to do so to make an exit offer for other shareholders.
