Medi-Flex to delist from SGX

Will make exit offer of 15 cents per share.

According to OSK, Top Glove Sdn Bhd, the parent company of Medi-Flex, is seeking voluntary delisting of the Catalist-listed maker of rubber gloves. 

Here's more:

In a joint-announcement, it was mentioned that Top Glove will be making an exit offer of 15 cents per share for the remaining share it does not own.

On its intention to delist, the management announced that "the exit offer represents a unique cash exit opportunity for shareholders to realise their entire investment at a premium," the announcement said.

"This option may not otherwise be readily available due to the low trading liquidity of the shares." Medi-Flex reported an increase in net profit by 60% to RM10.6m in its fourth quarter,on a year-on-year basis. This was contributed by falling raw material costs.