Dragon Group International will be delisted from 9am on Sept 2.
The announcement, dated Aug 27, comes after the trading of the company’s securities were suspended more than seven years ago on May 10, 2018.
The investment holding company was listed on the Mainboard in September 1998, before becoming a subsidiary of ASTI Holdings in June 2006.
The notice of the Dragon Group’s delisting, as issued by the Singapore Exchange S68 (SGX) on April 11, follows inability of the group to meet the financial requirements for removal from the latter’s watchlist.
On Aug 19, 2024, Dragon Group announced its exit offer proposal under Listing Rule 1309 which requires an issuer to make an exit offer to the issuer’s shareholders, whereby such exit offer must be fair and reasonable, and must include a cash alternative as the default alternative.
The group adds that further updates on the delisting are to follow in the near-term.
