Posted by Kevin Scully
Armstrong has been relisted after announcing that it has received a delisting offer at S$0.40 from a group controlled by its current major shareholder. The proposed voluntary delisting offer is attached.
The key terms for the delisting to succeed can be found on item 4 of the above document – at least 75% of shareholders present at the EGM vote for the delisting and not more than 10% of the shareholders at the meeting do not vote against it.
The key thing for investors to weigh and decide is whether this is a reasonable offer – to make this decision they should wait for the advice of the independent directors of Armstrong and also the advice of the Independent Financial …