The Singapore Exchange S68 Regulation (SGX RegCo) has stated “no objection” to Boustead Singapore’s application for an extension to provide updates on its exit offer for Boustead Projects , according to a release by Boustead on Oct 17.
Boustead will have to provide a progress update on its compliance with the delisting notice within two weeks from the date of the extension letter, being Oct 17, 2023. Boustead says that it intends to comply with SGX RegCo’s directives in the delisting notice.
Previously, Boustead’s intention to privatise and delist Boustead Projects from the exchange, led to the closing of its privatisation offer on March 27. It was granted three months extension until June 26, followed by another three-months extension until Sept 26 to explore options to comply with the listing rules.
At present, Boustead Projects is in discussions with Boustead about the exit offer proposal. Boustead will keep shareholders informed of any further developments in this regard.
Shares in Boustead closed flat at 84 cents on Oct 17.
