Swiber Holdings receives nod from SGX-ST to delist

Felicia Tan2023-06-19

The SGX-ST’s decision is not an indication of the merits of the proposed delisting, says Swiber.The Singapore Exchange S68 Securities Trading Limited (SGX-ST) has given Swiber Holdings Bgk the nod to ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2344422815?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-06-19 15:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2344422815","market":"us","top_or_hot":-1,"title":"Swiber Holdings receives nod from SGX-ST to delist","media":"Felicia Tan","content":"<div>\n<p>The SGX-ST’s decision is not an indication of the merits of the proposed delisting, says Swiber.The Singapore Exchange S68 Securities Trading Limited (SGX-ST) has given Swiber Holdings Bgk the nod to ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/company-news/swiber-holdings-receives-nod-sgx-st-delist?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Swiber Holdings receives nod from SGX-ST to delist</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSwiber Holdings receives nod from SGX-ST to delist\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-06-19 15:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/company-news/swiber-holdings-receives-nod-sgx-st-delist?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Felicia Tan</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The SGX-ST’s decision is not an indication of the merits of the proposed delisting, says Swiber.The Singapore Exchange S68 Securities Trading Limited (SGX-ST) has given Swiber Holdings Bgk the nod to ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/company-news/swiber-holdings-receives-nod-sgx-st-delist?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4096","symbol_name":"电气部件与设备","start_time":0,"source_url":"https://www.theedgesingapore.com/news/company-news/swiber-holdings-receives-nod-sgx-st-delist?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2344422815","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2344422815","pubTimestamp":1687158936,"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"The SGX-ST’s decision is not an indication of the merits of the proposed delisting, says Swiber.","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4096":"电气部件与设备","LU1861214812.USD":"Blackrock Future of Transport A2 USD","LU1861219969.SGD":"Blackrock Future of Transport A2 SGD-H","BK6522":"化石燃料股","ST":"Sensata Technologies Holding"},"translate_title":"Swiber Holdings获得新交所同意退市","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BGK.SI":1,"ST":1},"content_text":"The SGX-ST’s decision is not an indication of the merits of the proposed delisting, says Swiber.The Singapore Exchange S68 Securities Trading Limited (SGX-ST) has given Swiber Holdings Bgk the nod to the company’s proposed delisting from the official list of the SGX-ST.\nOn June 19, Swiber said that the SGX-ST informed the company via a letter dated June 15 that it has “no objection” to the company’s proposed delisting.\nIt adds that rule 1307 of the listing manual, where the resolution to delist the issuer has been approved by shareholders who hold at least 75% of the issuer’s total number of shares, is not applicable. Rule 1309 of the listing manual, where an exit offer has to be made to the issuer’s shareholders and holders of other classes or the appointment of an independent financial adviser to advise on the exit offer and deem it fair and reasonable, has been complied with since Swiber will be wound up under the order of the Singapore High Court on Nov 11, 2022.\nThe SGX-ST’s decision is not an indication of the merits of the proposed delisting, says Swiber.\nThe discharge and winding-up applications were heard and granted on Nov 11, 2022. The company and its subsidiary, Swiber Offshore Construction (SOC), entered compulsory liquidation on the same day.\nOn Feb 22, the liquidators submitted an application to the SGX-ST for the company to be delisted from the Mainboard.\nAt the time, the company’s liquidators said that the company was not in a position to make any distributions to its shareholders as it was insolvent and under compulsory liquidation. The company also did not have any means to convene a shareholders’ meeting and make an exit offer to its shareholders.\nSwiber’s board of directors first applied to wind up the company on July 27, 2016. The company had also filed to place itself under provisional liquidation.\nTwo days later, Swiber applied to place itself under judicial management instead. The company had, at the same time, applied to discharge the provisional liquidation order and to withdraw the winding up application made just two days ago.\nSwiber was placed under interim judicial management by the Singapore High Court on Aug 2, 2016.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2344422815"}