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Tigerair clinches delisting approval from SGX
It no longer needs to hold a shareholder meeting.
Budget carrier Tiger Airways has received delisting approval from the Singapore Exchange.
The regulator said that it has no objection to the proposed delisting, and added that it will grant the company a waiver of the requirement that the privatisation has to be approved by shareholders in a general meeting.
The waiver was granted because Tigerair's parent company, Singapore Airlines, already holds over 90% of all Tiger shares.
"Accordingly, it is a given conclusion that any delisting resolution will be approved. For that reason, it would be an unnecessary expenditure of time and expense if the Company were required to call a general meeting of its Shareholders to approve the Proposed Delisting," the SGX said.
The delisting will not impact holders of perpetual convertible capital securities (PPCS).
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