Under the Sept 20 agreement, QRC, a consultancy solely owned by Enomoto Hiroyuki, had acquired a 57.16% stake in the company for $5.6 million, or 8.09 cents per share. This consisted of 45 million shares from DLF's former chief executive Wong Ming Kwong (main image) and 24.2 million shares from founder Fan Chee Seng.
SINGAPORE (Sept 26): Engineering firm DLF Holdings has been hit with a notice of compliance (NOC) from the Singapore Exchange Regulation (SGX RegCo) related to a sale and purchase agreement (SPA) signed on Sept 20 that led to a takeover offer for the group.
In the NOC filing on Thursday evening, SGX RegCo has ordered DLF to disclose its responses to its queries on Sept 23 which included the rationale and intention behind the Sept 20 SPA.
