BreadTalk to delist from SGX on June 5

Vivienne Tay

Published Wed, Jun 3, 2020 · 06:18 AM

BREADTALK Group on Wednesday said the company will be delisted from the Singapore Exchange on June 5, 9am, following the completion of its compulsory acquisition.

The food and beverage player, which lost its free float on April 4, suspended trading in its shares on April 21. The offerer - BTG Holding - exercised its right of compulsory acquisition on May 29.

BTG Holding is a special purpose vehicle owned by BreadTalk founder and chairman George Quek with his wife Katherine Lee, and Minor International, a hospitality and leisure company listed in Thailand.

Minor International owns 99.7 per cent of The Minor Food Group, which in turn wholly owns Primacy Investments, a substantial shareholder of BreadTalk.

The application for delisting came after the company's privatisation offer closed on April 20, with the offeror's concert parties having owned, controlled or agreed to acquire 98.03 per cent of BreadTalk shares.

It was also disclosed at the time that BTG Holding would compulsorily acquire the remaining shares at the same offer price of S$0.77 apiece.