Second Chance Properties’ founder and CEO Mohamed Salleh Marican has, through Final Chance Holdings, has exercised his right of compulsory acquisition to compulsorily acquire the shares from shareholders that have not accepted Final Chance’s offer yet.
The shares will still be acquired at the offer price of 30 cents per share under Section 215(1) of the Companies Act.
Following the completion of compulsory acquisition exercise, Second Chance Properties 528 will become a wholly-owned subsidiary of Final Chance Holdings. It will also be delisted from the Mainboard of the Singapore Exchange S68 Securities Trading Limited (SGX-ST). The date and time of the delisting will be announced by Second Chance in due course.
Shares in Second Chance last traded at 30 cents before its trading suspension on Sept 30.
