Thomson Medical will now have until Jan 10, 2024 to restore its public float.
Thomson Medical Group
A50 has announced that Singapore Exchange
S68 Securities Trading (SGX-ST) has granted the company an additional period of one month until Jan 10, 2024 to explore options to restore its public float on Dec 7.
SGX-ST has also granted the continued trading of its shares during this period.
The company had previously announced that it had been granted a period of three months until Dec 10 to restore its public float after the percentage of its shares held by public shareholders fell to 9.98% on Sept 12.
This percentage of shares held by the public fell below SGX-ST’s requisite of 10% of the total number of issued shares excluding treasury shares.
SGX-ST may grant a period of three months or longer, such as in this instance, for any company that falls short of this requirement to raise the percentage of shares in public hands to at least 10%, failing which the company may be removed from the official SGX list.
During this period, Thomson Medical will have to monitor the public float and trading activity in its shares on an ongoing basis, and make an immediate request for a trading halt if there is any indication of disorderly trading.
Shares in Thomson Medical closed unchanged at 5.6 cents on Dec 7.