Offshore and marine (O&M) company Falcon Energy will delist from the Singapore Exchange S68 Securities Trading Limited (SGX-ST) at 9am on Nov 15.
The company was ordered by the High Court to wind up on April 8 with Deloitte & Touche’s Lim Loo Khoon and Tan Wei Cheong appointed as joint and several liquidators.
On Sept 20, Lim and Tan sent an application to the SGX-ST for the company to be delisted from the Mainboard.
On Sept 7, 2023, Falcon Energy filed an application to the High Court for a moratorium under Section 64(1) of the Insolvency, Restructuring and Dissolution Act 2018. The application was to facilitate Falcon Energy’s plan to propose a new scheme of arrangement under a court-supervised process.
Falcon Energy last reported its full year results for the FY2020 ended June 30, 2020 on Feb 25, 2022. At the time, the company posted a narrower loss of US$8.8 million compared to a loss of US$263.4 million in the FY2019.
Shares in Falcon Energy last traded at 2.7 cents before it requested for a trading suspension on Oct 30.
