Voluntary delisting of LTC approved

Singapore

STEEL trading and property group LTC Corp will be delisted, after the controlling Cheng family successfully passed a voluntary delisting resolution on Tuesday.

The Chengs opted for a voluntary delisting of LTC by way of an extraordinary general meeting (EGM) after failing to procure 90 per cent of all shares in LTC in order to take it private. Some minority shareholders had refused to tender their shares as they felt lowballed.