Starburst to delist on 22 April
This was approved by the Singapore Exchange Securities Trading.
Mainboard-listed engineering group Starburst Holdings is expected to be delisted on 22 April 2022 following the approval of Singapore Exchange Securities Trading (SGX-ST) to do so.
“The SGX-ST has no objection to the proposed delisting of the company,” it said in an announcement.
SGX-ST said the company complied with the Rule 1309 of the Capitalist Rules because the firm provided a cash exit alternative and designated an independent financial adviser to “opine on the offer.”
This after Starburst said it is “taking into consideration” the Nordic Flow Control Pte. Ltd.’s “intention to exercise its right to compulsory acquisition.”
The preferred date for the delisting is 22 April 2022 after the completion of the compulsory acquisition, Starburst said.