Singapore Exchange Securities Trading (SGX-ST) has rejected Thomson Medical Group
The company announced that it had received a letter of rejection from SGX-ST on Jan 10 after its application on Jan 2.
SGX-ST had previously granted Thomson Medical an extension of one month until Jan 10 to explore options to restore its public float after the percentage of its shares held by public shareholders fell to 9.98% on Sept 12 last year.
This percentage of shares held by the public fell below SGX-ST’s requisite of 10% of the total number of issued shares excluding treasury shares. Companies that fall short of this requirement may be removed from the official SGX list.
Thomson Medical’s shares will continue trading while it continues to explore possible options to restore the float “as soon as possible”.
Shares in Thomson Medical closed 0.1 cents lower or 1.7% down at 5.8 cents on Jan 10.
