Nobel Design suspends trading

TRADING in the shares of Nobel Design will be suspended with effect from Wednesday.

The lifestyle furnishing consultant said in a Wednesday update to the Singapore Exchange that the total amount of issued ordinary shares in the company held by its public shareholders has fallen to below 10 per cent. As such, "trading in the company's shares will be suspended with effect from 9 am on July 12, 2017".

This comes after the takeover offer for Nobel Design closed on Tuesday with the total number of shares owned, controlled or agreed to be acquired by the offeror and its concert parties plus valid acceptances amounting to 97.28 per cent of its total number of shares.

The mandatory unconditional cash offer was made by Oversea-Chinese Banking Corporation Limited (OCBC), for and on behalf of Grand Slam RF18 Investments.