Gul Technologies Singapore receives proposal to delist

Greenwich will make an exit offer to acquire shares at S$0.162 each.

The Board of Directors of Gul Technologies Singapore Ltd has received a formal proposal from Greenwich Pacific Pte. Ltd. to seek the voluntary delisting of Gul Technologies Singapore from the Official List of the Singapore Exchange Securities Trading Limited.

As at the date of the announcement, Greenwich does not hold any ordinary shares in Gul Technologies Singapore. However, parties acting or deemed to be acting in concert with it in connection with the exit offer collectively hold, directly or indirectly, 804,777,996 shares representing approximately 86.44% of the issued share capital.

Under the delisting proposal, Greenwich will make an exit offer to acquire all the shares, other than those already owned, controlled or agreed to be acquired by Greenwich and certain concert parties, namely, Nuri Pacific and TS Technologies.