Asia/Pacific News
Chemoil's Last Day of Trading In Singapore Will Be May 2
The last day of trading for Chemoil Energy Ltd. (Chemoil) on the Singapore Exchange Securities Trading Ltd. (SGX-ST) will be Friday, May 2, the company has announced.
Chemoil said it has received confirmation from the exchange that it has no objections to suspending trading of the stock, effective Monday, May 5.
The company and its majority shareholder, Glencore Xtrada Plc. (Glencore) filed for a voluntary delisting from the SGX-ST in February, saying the move would reduce expenses and give it more flexibility in developing business opportunities.
Chemoil had announced a closing date of April 29 for its exit offer to shareholders, but it has extended the offer until May 9, and it said it will make an announcement on a definitive delisting date after the exit offer's close.
Shareholders voted to delist the company at an extraordinary general meeting on April 15, according to Singapore newspaper the Straits Times.
