Regulatory Actions By SGX::Delisting Notification

Issuer & Securities

Issuer/ Manager
SINO TECHFIBRE LIMITED
Securities
SINO TECHFIBRE LIMITED - BMG8169N1020 - AD8
Stapled Security
No

Announcement Details

Announcement Title
Regulatory Actions By SGX
Date &Time of Broadcast
01-Nov-2016 18:08:29
Status
New
Announcement Sub Title
Delisting Notification
Announcement Reference
SG161101OTHRDP0M
Submitted By (Co./ Ind. Name)
Lorraine Chay
Designation
Vice President
Description (Please provide a detailed description of the event in the box below)
Sino Techfibre is a long-suspended company which has not made any substantive announcements since 26 September 2012.

SGX has made constant efforts to engage with the Company on its obligations under SGX Listing Rule to keep shareholders updated.

On 31 October 2016, the Company communicated to SGX that it will not make any announcement to update the market now.

As the Company has not demonstrated compliance with Listing Rule requirements, SGX has notified the Company on 31 October 2016 that it will be delisted from the Exchange. SGX required the Company to release an announcement to inform shareholders of the notification of delisting.

The exchange was informed on 1 November 2016 by a representative from the Company that it will not be complying with the exchange's directive to release the notification on the impending delisting.

SGX Listing Rule 1306 requires the issuer or its controlling shareholder(s) to comply with Listing Rule 1309 which requires the company or its controlling shareholder(s) to make a reasonable exit offer to shareholders. In the case of Sino Techfibre, the Company is required to make an SGXNET announcement about its exit offer proposal as soon as practicable and within one month from 31 October 2016.

Given Sino Techfibre's stance, SGX is releasing this announcement to inform shareholders of the delisting notification and the requirement to provide a reasonable exit offer to shareholders.

SGX is reserving its right to take appropriate actions against Sino Techfibre for non-compliance with Listing Rule requirements.