DeClout to delist from SGX on April 22 after buyout

CATALIST-LISTED DeClout on Wednesday said it will be delisting from the Singapore Exchange (SGX) with effect from 9.00am on April 22 after losing its free float via its recent Exeo Global buyout, slated to complete on April 18.

The move follows the technology firm's March 19 announcement stating the SGX-ST had no objection to the delisting after DeClout had met several requirements. 

Tokyo-listed Kyowa Exeo Global, a Japanese engineering conglomerate, said in January that it plans to privatise and delist DeClout after making an offer valuing DeClout at some S$86.6 million.

Upon closing of the offer, Exeo Global had shares and valid acceptances representing about 95.04 per cent of the total issued shares, and about 94.64 per cent of the maximum potential issued shares in the company.