Upon delisting, the shares will only be traded on the Hong Kong Stock Exchange.
Alibaba Pictures Group has received the approval from SGX-ST to delist from the local bourse on 4 December, an SGX filing revealed.
Upon completion of the proposed delisting, the shares will only be traded on the Hong Kong Stock Exchange (HKEX). The voting rights and entitlement to dividends of the CDP depositors will not be affected by the proposed delisting.
The start of its share transfer period is on 5 August. CDP Depositors may continue to trade their shares on the SGX-ST until the last day of trading, which is tentatively 11 November.
To facilitate the process of the transfer of shares from CDP to CCASS, the firm intends to assist CDP depositors who currently do not have a trading account with a broker; and/or may be unsure as to how to open a trading account which will allow them to commence the share transfer process. For this purpose, the company has appointed UOB Kay Hian to assist CDP depositors in the said process.
CDP depositors may opt to either maintain an exposure to the company by holding the shares registered on the Hong Kong share register of the company or realise cash for their holdings.
If CDP depositors do not take any action during the share transfer period and have shares held with CDP as at the date of the delisting, their shares will be automatically transferred from CDP to the Hong Kong Share Register. The company will bear the costs in relation to the transfer of the shares of the remaining depositors from CDP to the Hong Kong Share Register and the issuance of physical share certificates to the Remaining Depositors.
However, if the remaining depositors wish to sell or trade their shares on HKEX, they will have to make their own arrangements to deposit their shares into CCASS for credit to the account of their broker(s), and the company will not bear any charges which may be charged in this regard, including but not limited to those charged by CCASS or such broker(s) in connection with the deposit of their shares into CCASS, the firm stated.
CDP Depositors may also sell their shares on the SGX-ST up to 11 November.
Further, CDP depositors who wish to trade their shares on HKEX, from 5 August to no later than 5PM SGT on 20 November, may transfer their shares from CDP to CCASS through two options.
First, CDP depositors may have their shares to be transferred from their securities account(s) with CDP to the CCASS account of the Hong Kong branch of the designated broker, or move their shares from the depository agent sub-account with their securities broker(s) to the depository agent sub-account with the designated broker.
From there, shares will then be transferred to the CCASS account of the Hong Kong branch of the designated broker by going to its office and duly completing and executing all relevant forms and providing the relevant supporting documents that the designated broker will require.
The second option will allow CDP Depositors to transfer their shares from their securities account(s) with CDP to the account of their relevant broker(s) (other than the designated broker) in CCASS during the share transfer period by themselves or through their broker(s).
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