Sakari seeking delisting
Tuesday, January 15 2013 - 05:15 AM WIB
Sakari Resources Limited said that Singapore Exchange Securities Trading Limited (SGX-ST) has confirmed delisting of Sakari from SGX-ST would be made on February 17.
"The Board wishes to announce that the SGX-ST has granted its approval for the Delisting and has confirmed that the date of the Delisting will be Sunday, 17 February 2013," the company said in the statement.
"The SGX-ST has also granted the waiver of Rule 1307, and has notified the Company that a waiver of Rule 1309 is not necessary."
As previously announced, the company had sought this waiver on the basis that PTT International Company Limited and its wholly-owned subsidiary PTT Mining Limited (PTTML), which directly or through related companies own, control or have agreed to acquire over 93% of the issued share capital of Sakari, support the Delisting and have indicated that they do not intend to make additional Sakari shares available in order to restore the free float of Sakari to at least 10% of the total number of issued Sakari shares.
Editing by Adianto P. Simamora