Last day of trading for RE&S on Aug 30

SHARES of food and beverage operator RE&S will have their last day of trading on Aug 30, said the company in a bourse filing on Monday (Aug 26) following its successful privatisation offer and the court sanctioning the deal.

Trading in RE&S shares will be suspended from 9 am on Sep 2, with the company expected to be delisted around Oct 17.

RE&S shareholders agreed to a proposed acquisition by Relish Investments that would take the company private at a scheme meeting held about two weeks ago.

Relish Investments is owned by Euphoria Investments, a special-purpose vehicle that is an indirect wholly owned subsidiary of a fund managed by Southern Capital Group, a Singapore-headquartered private equity firm.

Shareholders who accept the privatisation offer, which is made by way of a scheme of arrangement, can either opt for a cash payout of S$0.36 a share, or a combination of S$0.33 a share in cash and 0.083143 new share in the special-purpose vehicle.

In total, 99.98 per cent of the represented shares, held by 49 present shareholders, voted in favour of the scheme. Ten shareholders holding 0.02 per cent, or 60,300 of the represented shares, voted against the scheme.