Starburst gets regulatory nod to delist

STARBURST 40D Holdings has obtained the needed regulatory approval to delist, following its free float dipping below the required 10 per cent.

The firearms training facility manager stated in a filing on Friday (Mar 11) that the Singapore Exchange (SGX) has no objection to its proposed delisting from the Catalist board.

This came about as its acquirer Nordic Flow Control has managed to take over more than 90 per cent of shares in Starburst, resulting in the shares held by the public to be lower than the regulatory threshold of 10 per cent.

Also, SGX has noted Nordic's intention to exercise its right to compulsorily acquire the remaining shares that it does not already own after making the pre-conditional voluntary offer last November at S$0.0238 per share.