It adds that rule 1307 of the listing manual, where the resolution to delist the issuer has been approved by shareholders who hold at least 75% of the issuer’s total number of shares, is not applicable. Rule 1309 of the listing manual, where an exit offer has to be made to the issuer’s shareholders and holders of other classes or the appointment of an independent financial adviser to advise on the exit offer and deem it fair and reasonable, has been complied with since Swiber will be wound up under the order of the Singapore High Court on Nov 11, 2022.
The Singapore Exchange (SGX:S68
) Securities Trading Limited (SGX-ST) has given Swiber Holdings (SGX:BGK) the nod to the company’s proposed delisting from the official list of the SGX-ST.
On June 19, Swiber said that the SGX-ST informed the company via a letter dated June 15 that it has “no objection” to the company’s proposed delisting.
