Transcorp to despatch physical share certificates within a month of delisting

Published Thu, Jan 7, 2021 · 09:53 PM

CATALIST-listed Transcorp Holdings is planning the despatch of share certificates to shareholders whose shares are held with the Central Depository (CDP), and expects to complete this exercise within a month of its delisting date.

The firm, which used to be in the automobile sales business, will be delisted from the Singapore Exchange (SGX) at 9am on Jan 8.

In a bourse filing on Thursday, Transcorp said physical share certificates representing the relevant shares will be despatched by ordinary mail to the shareholders based on their addresses reflected in CDP's depository register.

The firm continues to be unable to fulfil its financial reporting, compliance and regulatory obligations due to the lack of financial resources. It will thus be unable to announce its FY2020 financial results within 60 days of its financial year-end; nor will it be able to fulfil other related financial reporting, compliance and regulatory obligations for now.

Transcorp said it continues to explore all available options to fulfil its financial reporting, compliance and regulatory obligations, and will update shareholders on material developments.

The firm has been deemed a cash company since May 4, 2020, after exiting the unprofitable business of selling and renting out cars. The counter has been suspended since December 2019.