CHT: Shaw Kwei & Partners (the Offeror) has proposed a voluntary delisting of the Co from the SGX, and exit offer of $0.18/sh, which is double that of the last closing price of $0.09/sh.
The Offeror has received irrevocable undertakings representing ~58.8% of shares.
The Offer needs EGM approval by at least 75% of the total no. of issued shares present at the poll, must not be voted against by 10% or more of total shares present.
Stock is up 89% at $0.17.
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