Oceanus Group files application with SGX to be removed from watch-list for the fulfilment of the financial exit criteria
SINGAPORE-LISTED abalone producer Oceanus Group on Friday evening announced that it has applied to the Singapore Exchange (SGX) to exit the bourse's watch-list for the fulfilment of the financial exit criteria - rule 1314(1) of the listing manual.
SGX's financial exit criteria indicate that firms may be removed from the watch-list if they record consolidated pre-tax profit for the most recently completed financial year, and post an average daily market capitalisation of at least S$40 million over the last six months.
Oceanus was first placed on the watch-list on Dec 14, 2015 and was given a six-month extension from Dec 2, 2017 to meet the requirements to exit from the watch-list (financial criteria) on March 6.
The company said in a filing with the SGX that it will update shareholders on its watch-list exit application in due course.
Oceanus shares finished S$0.001 or 11.1 per cent lower at S$0.008 on Friday before the announcement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama