Make voluntary general offer or prepare to wind down, say shareholders of Si2i

SINGAPORE (Feb 27): A group of shareholders in telecom and IT service provider, S i2i, are demanding “urgent action” from the company to ensure that shareholder value is preserved.

A letter dated Feb 21 and issued by the shareholder group by the name of Blue Ocean Capital Partners was sent to S i2i’s board of directors, highlighting that it has nearly two years since the company was placed on the Singapore Exchange’s (SGX’s) watch list.

The company on Nov 26 last year announced that it had applied for a 12-month extension of the initial deadline to 3 Mar 2018, which was approved by the bourse.

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