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Elec & Eltek to delist on Friday

PRINTED circuit-board manufacturer Elec & Eltek International Company (E&E) will be delisted in both Singapore and Hong Kong on Friday.

Kingboard Investments, the offeror in a privatisation bid that turned unconditional in July, on Monday exercised its right to take over the remaining minority shareholders' stakes.

The investors who had not validly accepted Kingboard's offer when it closed in August will receive S$3.10753 a share - the same value as the offer price of HK$17.76 apiece.

When the compulsory acquisition exercise is completed - which is expected to take place by Thursday - E&E will become a wholly-owned subsidiary of Kingboard.

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