AF Global expected to delist around Apr 24

[SINGAPORE] Mainboard-listed hospitality company AF Global is expected to delist from the mainboard of the Singapore Exchange on or around Apr 24, based on an indicative timetable.

This comes after the court sanctioned the scheme of arrangement on Mar 27 to take the business private.

Jewellery retailer Aspial Corporation and JK Global Investment – an entity linked to the Koh family – had offered last October to privatise AF Global, by proposing to buy the remaining shares that they do not own by way of a scheme of arrangement.

AF Global’s last day of trading of its shares will be on Thursday (Apr 2), with trading in the counter to be suspended from 9 am on Apr 6.

The scheme is expected to become effective on Apr 15. AF Global’s entitled scheme shareholders are expected to receive the scheme consideration of S$0.11 per share in cash on or around Apr 23.

The books closure date is on Apr 14 at 5 pm.

Shares of AF Global last traded at S$0.109 on Mar 31.