Lankom Electronics to be delisted on Nov 5
Annabeth Leow
LANKOM Electronics will be delisted on Nov 5, in an ultimatum handed down by the Singapore Exchange (SGX) on Friday.
The SGX noted that trading in Lankom shares has been suspended since March 2013.
The Taiwanese company had been on a watch-list since March 2010, after three straight years of losses.
"During the suspension period, the Exchange held various discussions with the company's controlling shareholder with a view of either procuring a cash exit offer for minority shareholders and/or having the company undertake a voluntary liquidation and returning any surplus cash to shareholders," said the SGX.
But it added that the controlling shareholder "has ceased to extend cooperation to the Exchange" since 2016.
Lankom had a market value of S$1.8 million when it was suspended. Its net liability was about S$1.2 million, based on its last announced financial statements for the year to Dec 31, 2012.
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