17-02-2023, 03:07 PM
Hi punchcardtrader,
SGX RegCo had already laid out the requirements for delisting. It is not about against their will. As long as the requirements are met, companies can be delisted even if you do not accept the offer and/or vote no at delisting EGMs. Details are below:
https://www.sgxgroup.com/media-centre/20...older-vote
Sell-out rights has nothing to do with delisting. It just means that you have to right to request the offeror to acquire your shares at offer price. You cannot stop the delisting or increase the offer price with sell-out rights.
Also, sell-out rights are not mentioned yet mainly because the offer have not reached that milestone yet. Which means, minorities do not have this right at the moment.
(12-02-2023, 09:07 PM)punchcardtrader Wrote: Important to understand, by virtue of SGX rules, voters against will not get de-listed against their will.
SGX RegCo had already laid out the requirements for delisting. It is not about against their will. As long as the requirements are met, companies can be delisted even if you do not accept the offer and/or vote no at delisting EGMs. Details are below:
https://www.sgxgroup.com/media-centre/20...older-vote
(12-02-2023, 09:07 PM)punchcardtrader Wrote: There is something called sell-out rights in this voluntary , conveniently not mentioned in the announcement.
Sell-out rights has nothing to do with delisting. It just means that you have to right to request the offeror to acquire your shares at offer price. You cannot stop the delisting or increase the offer price with sell-out rights.
Also, sell-out rights are not mentioned yet mainly because the offer have not reached that milestone yet. Which means, minorities do not have this right at the moment.