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BACKPACK maker Dapai International Holdings Co has been given until 5.05pm on Aug 10 to delist from the Singapore Exchange's (SGX) main board.
It said in a release on Tuesday morning before market open that SGX informed it on July 10 that it did not meet a stipulated requirement to continue to be listed.
As such, the company or its controlling shareholder(s) has to make a reasonable exit offer to shareholders.
The rule requires that the issuer records consolidated pre-tax profit for the most recently completed financial year (based on the latest full-year consolidated audited accounts) and has an average daily market capitalisation of S$40 million or more over the last six months.
It also has to record a volume-weighted average price of at least S$0.20 and an average daily market capitalisation of S$40 million or more over the last six months.