Internet Technology Group

Internet Technology Group: to lift halt at 8.30am. The Goh family’s special purpose vehicle, WLH has proposed a voluntary delisting and will make an exit offer to acquire all shares of ITG at $0.127 in cash, representing a 7.6% premium over the last closing price of $0.118. WLH, in concert with the undertaking shareholders, comprising mainly the Goh brothers and their family investment vehicle Ossia Holdings Pte Ltd, currently control ~61.4% of the shares out. The delisting and exit offer will be conditional on the delisting resolution being approved by a majority of at least 75% of the shares present at an EGM to be convened, and not being voted against by 10% or more of the shares. The rationale for delisting is that ITG has not raised any funds from the capital markets since its IPO in 2000, and is unlikely to require access to capital mkts to finance its operations in the foreseeable future.