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Dragon Group gets delisting notice, must make exit offer to shareholders
DRAGON Group International has received a notification of delisting from the Singapore Exchange (SGX) on April 11, following the rejection of a further extension to meet the bourse's financial requirements for removal from its watchlist, the struggling Chinese electronics engineering firm said on Thursday.
The company will be required to inform the SGX of its exit offer proposal to shareholders as soon as practicable and no later than one month from the date of the delisting notification, it said in a pre-market filing.
Trading in the company's securities will continue until 5pm on May 10, with trading thereafter suspended until completion of the exit offer.
Dragon Group shares fell S$0.008 or 47.1 per cent lower to S$0.009 as at 9.51am.