Global Premium Hotels shares to be suspended ahead of delistment

SHARES in Global Premium Hotels will be suspended ahead of its delistment following a takeover bid.

JK Global Capital, an investment holding company owned by Global Premium chairman Koh Wee Meng, earlier this year launched a privatisation offer of 36.5 Singapore cents per share for the shares Mr Koh didn't already own in Global Premium.

At the close of the offer on April 27, the total number of shares owned, controlled or agreed to be acquired by the offeror and concert parties; and for which valid acceptances had been received, represented about 96.53 per cent of Global Premium.

JK Global Capital intends to exercise its right to compulsorily acquire the remaining shares in the company.