Request for Suspension::Mandatory

Issuer & Securities

Issuer/ Manager
SINGAPORE REINSURANCE CORPORATION LIMITED
Security
SINGAPORE REINSURANCE COR LTD - SG1J71891696 - S49
Note: In line with current market practice, trading on SGX-ST of all securities related to the counter(s) have also been similarly suspended.

Announcement Details

Announcement Title
Request for Suspension
Date &Time of Broadcast
18-Jun-2021 07:32:03
Status
New
Announcement Reference
SG210617SUSP1YX9
Submitted By (Co./ Ind. Name)
Tan Swee Gek
Designation
Company Secretary
Narrative Type
Narrative Text
Additional TextAccording to the Loss of Free Float Announcement issued on 25 May 2021 by SAC Capital Private Limited for and on behalf of Fairfax Asia Limited (the "Offeror"), the Offeror has, through acceptances of the Offer relating to Singapore Reinsurance Corporation Limited's (the "Offeree") Shares or otherwise,
Additional Textsucceeded in holding more than 90% of the total number of the Offeree Shares (excluding any Offeree Shares held in treasury), thus causing the percentage of the total number of the Offeree Shares (excluding any Offeree Shares held in treasury) held in public hands to fall below 10%.
Additional TextPlease refer to the announcement made by the Company on 27 May 2021 in relation to, inter alia, the loss of free float for further information.
Additional TextRule 1303(1) of the Listing Rules provides, inter alia, that the SGX-ST may at any time suspend trading of the listed securities of an issuer if the percentage of an issuer's total number of issued shares excluding treasury shares held in public hands falls below 10%.
Additional TextIn a take-over situation, where the offeror succeeds in garnering acceptances exceeding 90% of the issuer's total number of issued shares excluding treasury shares, thus causing the percentage of an issuer's total number of issued shares
Additional Textexcluding treasury shares held in public hands to fall below 10% the SGX-ST will suspend trading of the listed securities of the issuer only at the close of the take-over offer.
Additional TextAs the Offer has closed at 5.30 p.m. (Singapore time) on 17 June 2021, the Offeree has accordingly requested the suspension of trading of its listed securities with effect from 9.00 a.m. on 18 June 2021.

Event Dates

Effective Date and Time of the Event
With Immediate Effect

DISCLAIMER: This announcement was prepared and issued by the named Issuer/ Manager to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNet for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the named Issuer/ Manager directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement.