Pollux Properties (SGX:5AE) is considering to seek a waiver from the SGX to require shareholder approval for the proposed disposal of a freehold property located at Devonshire Road, Singapore, according to a filing with the Singapore Exchange on Wednesday.
The group's wholly owned subsidiary, Savers Investment, had earlier granted an option to purchase the property to an unrelated party for a consideration of SG$3.3 million.
The group is seeking a waiver since the book value of the property is immaterial compared to the company's net asset value and value of the group's investment properties.
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