Boustead Singapore seeks extension to furnish exit offer proposal

It will provide the details after the release of its 1H24 results.

Boustead Singapore Limited (BSL) has asked the Singapore Exchange (SGX) to extend the period it gave the company to provide details of its exit offer for Boustead Projects Limited (BPL).

Initially, BSL must be able to submit its exit offer proposal to SGX no later than one month from 26 September.

SGX ordered BSL to provide a “fair and reasonable” exit offer to its shareholders, which the International Fiscal Association (IFA) will review. 

In a bourse filing, BSL said it is “unable to provide an update” about the exit offer given that it still has to announce its 1H24 results.

SGX has earlier ordered BSL to delist BPL following its failure to restore its public float to at least 10%.