SINGAPORE (THE BUSINESS TIMES) – Jardine Matheson Holdings (JMH) has completed its 15 per cent stake acquisition in Jardine Strategic Holdings, announced the conglomerate in a filing to the Singapore Exchange (SGX) on Thursday morning (April 15).
This follows approval of JMH’s acquisition by shareholders of Jardine Strategic at a special general meeting held on Monday.
Jardine Strategic has since applied to cancel the listing of its shares on the Financial Conduct Authority’s Official List with effect from 8am (UK time) on April 15.
It has also made applications to delist from the SGX mainboard with effect from 9am today; the London Stock Exchange from April 15, 8am (UK time); and the Bermuda Stock Exchange from April 14, 5pm (Bermuda time).
Jardine Strategic’s shareholders’ circular previously indicated that the company’s shares were expected to be suspended from trading on the SGX mainboard by 7.30am on Tuesday.
While a number of Jardine Strategic shareholders had voted against the acquisition, JMH noted that “a large number of shares” that voted against the resolution were held by investors who were not shareholders at the time of the announcement of the acquisition on March 8.
Shares of JMH ended Wednesday US$0.20 or 0.3 per cent lower at US$64.87.