Kian Ann Engineering unveils delisting plans

SGX has no objections.

According to an SGX release, an application had been made on behalf of the Company to the SGX-ST for the delisting of the Company from the Official List of the SGX-ST upon the Scheme becoming effective and binding.

Here's what the rest of the announcement reads:

The Directors wish to announce that the SGX-ST has, on 22 November 2012, advised that it has no objection to the proposed delisting of the Company from the Official List of the SGX-ST, subject to the following:

(a) compliance with the SGX-ST’s listing requirements;
(b) shareholders’ approval being obtained for the Scheme; and
(c) the Singapore High Court’s approval being obtained for the Scheme.

The above decision of the SGX-ST is not to be taken as an indication of the merits of the Scheme, the proposed delisting, the Company, its subsidiaries and/or their securities.

Further information on the Scheme and the terms and conditions upon which the Scheme will be implemented will be set out in the Scheme Document to be issued by the Company to the Shareholders. In the meantime, Shareholders are advised to exercise caution when trading in their Shares, pending receipt of the Scheme Document.

Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor, accountant or other professional advisers immediately.