Armstrong receives delisting offer from current major shareholder and new partner at S$0.40 per share…. Tuesday, 9 July, 2013  8:33 AM
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 …