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Boardroom calls for trading halt amid sale offer exercise

BOARDROOM Limited has called for a trading halt at 9.54am on Friday, "pending release of an announcement".

The mainboard-listed corporate secretarial services firm previously announced that GK Goh Holdings had made a voluntary unconditional cash offer for it at S$0.88 per share. Its shares remained unchanged on Friday before the trade halt was initiated.

The offeror is Salacca, a wholly owned unit of GK Goh. The offer is unconditional, and in the event that Boardroom's free float falls below 10 per cent, Salacca plans to delist the stock.

Its latest update on Thursday night said that GK Goh had acquired 84.8 per cent or 177.8 million of Boardroom's shares so far.

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This includes valid acceptances of the offer from shareholders, which hold 3.5 per cent of total Boardroom shares.

The deadline for Boardroom shareholders to send in acceptances of the offer is June 28, 5.30pm.