PSL Holdings to seek voluntary liquidation
Add BT as a preferred source
Sharanya Pillai
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE board of watch-listed PSL Holdings has decided that it is "in the best interests of shareholders" for the firm to undergo a voluntary liquidation, after being served a delisting notification by the Singapore Exchange.
In a Tuesday bourse filing, PSL noted that it has not received a firm exit offer proposal from any party after it announced the receipt of the delisting notification on June 22. None of its existing shareholders are also in a position to make an exit offer.
PSL is now in the process of appointing liquidators. It will convene an extraordinary general meeting to seek the approval of shareholders. A circular to shareholders will be sent out in due course.
PSL started off in the early 1980s providing ground engineering services for the construction industry. It later grew into a marine anchor specialist for wharves and jetties in oil refineries and shipyards, and in the soil improvement market.
Shares of PSL last traded at S$0.148 before trading in the counter was suspended on July 20.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
