Shengrong Holdings (00834): Shares voluntarily delisted on the main board of the SGX

Zhitong Finance App News, Shengrong Holdings (00834) announced that the company intends to voluntarily delist the company's current second-listed common shares on the main board of the Singapore Stock Exchange Limited from the main board of the Singapore Stock Exchange.

The company has sought advice for delisting for the following reasons: (a) Since the listing of the company's shares on the Stock Exchange of Hong Kong Limited at the end of each calendar year, the record for the number of shares registered with the Central Collection Private Limited has been insignificant. (b) The trading volume of shares on the SGX has been low. The trading volume of shares on the Hong Kong Stock Exchange greatly surpassed the company's trading volume on the Singapore Stock Exchange. (c) The company has not raised any capital on the SGX since 2007. (d) In addition to the Hong Kong Stock Exchange listing rules, due to a secondary listing on the SGX, the company must comply with the requirements set out in sections 217 and 751 of the SGX Listing Manual (including other listing requirements that the SGX may implement from time to time). The Board believes that the proposed delisting will eliminate additional administrative expenses and compliance costs associated with SGX regulations, and enable the company to streamline its compliance responsibilities, reduce legal and compliance costs, and focus resources on business operations.

For the reasons set out above, the directors are of the opinion that the proposed delisting is in the overall interest of the company and its shareholders.