Attilan Group receives delisting notice from SGX

Trading in the company’s securities will continue until 5:16 p.m. on 3 July.

Investment holdings firm Attilan Group has received a delisting notification from the Singapore Exchange Securities Trading (SGX-ST) following its failure to be removed from the SGX’s watchlist, a filing with the local bourse revealed.

Attilan Group was placed on the watchlist in March 2016 due to the minimum trading price (MTP) entry criterion. The firm had 36 months to record a volume weighted average price of at least $0.20 over the last six months prior to the SGX-ST’s review or record an average daily market cap of $40m or more over the last six months in order to be removed from the watchlist.

Trading in the company’s securities will continue until 5:16 p.m. on 3 July. Trading will remain suspended from 9 a.m. on 4 July until completion of an exit offer to shareholders, in accordance with the listing rules that requires Attilan or its controlling shareholders to provide a reasonable exit offer to its shareholders.

“The company shall inform SGX-ST on the exit offer proposal as soon as practicable and no later than one month from the date of the notification,” they said.

According to Attilan’s managing director Datuk Jared Lim Chih Li, the board is reviewing the delisting notification and intends to make an appeal to the SGX-ST.