LCT Holdings to delist on Dec 23

PROPERTY investment company LCT Holdings will be delisted from the Singapore Exchange (SGX) with effect from 9am on Dec 23, following the compulsory acquisition of the remaining shares not held by the offeror.

LCT's board said in an SGX filing on Monday night that the Singapore Exchange Securities Trading Limited had responded with "no objection" to the proposed delisting of the company.

Co-founder Du Junhong made a voluntary conditional cash offer in September of S$0.60 per share for the more than 35 million issued shares. The offer closed on Nov 17 with the offeror Superior Partners and concert parties holding 95 per cent of total issued shares.

LCT will become a wholly-owned subsidiary of the offeror when the compulsory acquisition is completed.