Chemoil to be delisted on Tuesday

Singapore

CHEMOIL Energy will officially be delisted from the mainboard of Singapore Exchange from 9am next Tuesday. The marine oil supplier had made known its intention to voluntarily delist in February after it received an offer from Singfuel Investment, an indirect subsidiary of Glencore Xstrata, to buy all its shares at 40 US cents a share in a bid to take the company private.

It had sent a circular informing shareholders of its decision to delist on March 31, after announcing on March 20 that it had received in-principle approval from SGX for the delisting.