United Food Working on Exit Offer After Receiving Delisting Notification

MT Newswires

2024/09/17

United Food (SGX:AZR) management is currently working with the company and its controlling shareholder to come up with a "fair and reasonable exit" offer to shareholders, a filing with the Singapore Exchange said on Monday.

Earlier, the Singapore bourse had mandated the company's delisting from the mainboard after it failed to meet the requirements to exit the watch-list.

The company has been on the list since June 6, 2019, after posting pre-tax losses for three straight years and a market capitalization of below SG$40 million.

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