Isetan (Singapore) Confirms Effective Date of Isetan Mitsukoshi Acquisition Scheme

MT Newswires09-09

Isetan (Singapore) (SGX:I15), a department store operator in Singapore, has confirmed that its proposed scheme of arrangement, under which Isetan Mitsukoshi will acquire all outstanding shares not held by it, is now effective, according to a Friday filing on the Singapore Exchange.

The scheme, sanctioned by the court, was officially lodged with the Accounting and Corporate Regulatory Authority on Sept. 6. The effective date for the scheme is also Sept. 6.

Shareholders are expected to receive the scheme consideration within seven business days, by Sept. 17. The shares are anticipated to be delisted from the Singapore Exchange Securities Trading Limited (SGX-ST) on Sept. 19.

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