Blumont mulls transfer to Catalist

To evade the MTP requirement.

Blumont Group today revealed its plans to transfer the company’s listing from the Main Board of the Singapore Exchange to the Catalist Board.

The group believes that the proposed transfer will provide the company with a more suitable platform for the listing and trading of its shares and better allow it to attract investors in the future.

Blumont has also cancelled its proposed share consolidation scheme as the minimum trading price requirement is not applicable to the Catalist.

“Shareholders should note that there is no certainty or assurance as at the date of this announcement that approval for the Proposed Transfer will be obtained or if the Proposed Transfer will be undertaken at all,” stated the group.