SGX Revamps Voluntary Delisting Rules

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On 11 July 2019, the SGX announced two long-anticipated changes to the voluntary delisting rules applicable to companies listed on the SGX Mainboard and the SGX Catalist. These two changes came into immediate effect:

• Exit Offers and other delisting transactions must be both reasonable and fair;
• An Exit Offer must be approved by 75% of shares held by independent shareholders.