KTL Global, which is in the process of delisting from the Singapore Exchange S68 mainboard, will not be making an exit offer.
In a bourse filing, the company says it does not have the financial resources to make an exit offer to its shareholders.
Due to KTL Global ’s “dire financial situation”, the company is not suitable for voluntary liquidation — lacking the necessary funds to engage professionals required for such a process.
Additionally, the company does not have the funds to hire accounting professionals to provide the latest unaudited financial results.
As at June 30, KTL Global has only approximately $650 in cash and bank balances. Neither the company nor its subsidiaries have any ongoing operations.
Consequently, the company does not have the financial resources to make an exit offer or file for voluntary liquidation.
See also: Interra Resources granted 12-month extension to meet SGX watch-list exit requirements
Trading in the company's securities were suspended on Aug 17, 2021.
