Companies Markets

Koufu privatisation deal gathers 98.19% legitimate approvals; trading put on hold

SHARES in food court driver Koufu VL6 were put on hold on Thursday (Feb 24) from 9 am upon shedding its complimentary float.

This follows its creators’ volunteer conditional money deal for the mainboard-listed firm shut on Feb 23, with the offeror getting legitimate approvals standing for 98.19 percent of Koufu’s complete provided shares.

Concerning 428 million deal shares standing for regarding a 77.41 percent risk in the firm hurt by Jun Yuan Holdings as component of an unalterable task. An additional 2.8 million deal shares standing for a 0.51 percent passion in the firm hurt by events acting together with the offeror.

The firm’s independent non-executive supervisors Hoon Tai Meng as well as Tan Huay Lim in addition to lead independent supervisor Yu Lai Benefit had actually likewise dealt with 100,000 regular shares – standing for a straight or regarded passion among 0.018 percent per person – after approving the requisition deal.

Koufu’s creators in December 2021 made the S$ 0.77 per share money deal to take the firm exclusive.

They plan to exercise their right to imperatively get all shares held by dissenting investors on or after Mar 19, prior to continuing to delist the firm.

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