Request for Suspension::Mandatory

Issuer & Securities

Issuer/ Manager
UNITED ENGINEERS LIMITED
Security
UNITED ENGINEERS 7.5% CUM PREF - SG2K18002445 - U05
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
21-Jan-2020 07:47:23
Status
New
Announcement Reference
SG200121SUSPS6VN
Submitted By (Co./ Ind. Name)
Gwendolyn Gn Jong Yuh
Designation
Group Company Secretary
Narrative Type
Narrative Text
Additional TextAccording to the Loss of Free Float Announcement issued on 27 December 2019 by DBS Bank Ltd. for and on behalf of Yanlord Investment (Singapore) Pte. Ltd. (the "Offeror"), the Offeror has, through acceptances of the UEL Ordinary Share Offer or otherwise, succeeded in holding more than 90% of the total number of UEL Ordinary Shares
Additional Text(excluding any UEL Ordinary Shares held in treasury), thus causing the percentage of the total number of UEL Ordinary Shares (excluding any UEL Ordinary Shares held in treasury) held in public hands to fall below 10%.
Additional TextPlease refer to the announcement made by the Company on 27 December 2019 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 UEL Ordinary Share Offer and the UEL Preference Share Offer have closed at 5.30 p.m. (Singapore time) on 20 January 2020, United Engineers Limited has accordingly requested the suspension of trading of its listed securities with effect from 9.00 a.m. on 21 January 2020.

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.