Amos Group (SGX:49B) said the Singapore Exchange Securities Trading granted the company a waiver from obtaining shareholder approval for the proposed disposal of a property in South Korea.
The company entered into a transaction on May 17 with an unrelated third party for the sale of the asset at 51 Saenggoksandan 1-Ro in Busan for about SG$5.2 million.
Since the amount exceeded 20% under the relative figure rules of the SGX and constitutes a major transaction, the company required an approval of the shareholders under listing rules. However, with the waiver granted, the company does not need to seek approval from its shareholders.
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