Isetan Singapore's Acquisition by Isetan Mitsukoshi Approved by Court

MT Newswires08-26

Isetan Singapore (SGX:I15) said the Singapore High Court has sanctioned the proposed acquisition of all its ordinary shares by Isetan Mitsukoshi, a unit of Isetan Mitsukoshi Holdings, under a scheme of arrangement, according to a Saturday filing on the Singapore Exchange.

The scheme, which excludes shares already held by Isetan Mitsukoshi, will become effective upon the lodgement of the court order with ACRA. The last day of trading for Isetan (Singapore) shares on the SGX is set for Aug. 28, with trading suspended from Aug 29.

The record date for shareholder entitlements is Sept. 5. The company expects to make payment under the scheme by Sept. 17 and to delist from the SGX on Sept. 19.

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