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Oceanus granted six-month extension to meet SGX watch list exit criteria

Michelle Zhu Published on Wed, Mar 07, 2018 / 8:34 AM GMT+8

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SINGAPORE (Mar 7): Oceanus Group has been granted an extension of six months to exit the Singapore Exchange’s (SGX) watch list.

With effect of the extension, Oceanus now has up until June 2 to meet the financial criteria of exiting the SGX watch list – failing which it may be either delisted, or suspended from trading in its shares with a view to delist.

Previously, the group had until Dec 14 2017 to meet the financial exit criteria, which requires a company to record a consolidated pre-tax profit for the most recently completed financial year, and an average daily market capitalisation of $40 million or more over the last six months from the given deadline.