The Style Merchants (TSM): SGX issues a delisting notification. Says it will give the co up to 22 Aug to provide an exit offer proposal. Trading in the shares will continue until 5pm, 15 Sep 2011, until completion of the cash exit offer.
Recall, TSM was placed on the watch-list on 3 Jun 2009. It has been loss-making since being placed on the watch-list. TSM has been unable to meet the requirement to be removed from the watch-list within the stipulated 24 mths, and therefore the SGX was unable to grant an extension of the watch-list period.
At last close of 1ct, stock trades at 1.14x P/B.
At end Mar ’11, TSM had net cash of US$2.66m (0.39cts /sh).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment