Vote passed to delist Vard amid protest from some minorities

Singapore

A four-hour-long extraordinary general meeting (EGM) ended with a vote outcome that shareholders of Vard Holdings knew was inevitable from the start.

Some 96.43 per cent of those present voted for the delisting of the shipbuilder, the bulk of this from the controlling shareholder Fincantieri Oil & Gas which owns a 83.7 per cent stake. The remaining 3.57 per cent voted against.