Plato Capital to delist with $0.0305 exit offer price

The offer price represents a 111.81% premium over the last traded price on 23 May.

Plato Capital is undertaking a voluntary delisting exercise by way of a selective capital reduction, which will entail the cancellation of the issued ordinary shares in the company.

In a bourse filing, the company will be reducing the issued and paid-up share capital by $6.4m and cancelling an aggregate of 2.1 million shares. The exit offer price is $0.0305 per share.

The exit offer price represents a 111.81% premium over the last traded price on 23 May, and premiums of 107.48%, 58.03%, and 55.61% over the one-, three- and six-month volume-weighted average prices, respectively, up to the last trading day.

It also represents a discount of approximately 37.11% over the net asset value per share of $0.085 as of 31 December 2024.

Plato Capital will hold an extraordinary general meeting (EGM) to obtain shareholders’ approval of the delisting, subject to the approval of at least 75% of the total number of issued shares.