NO SIGNBOARD will lift its two-year trading suspension before the record date of its six-to-one share consolidation, it said late on Wednesday (Mar 13).
The Catalist-listed restaurant operator said the record date for the consolidation will be Mar 21 at 5 pm.
Trading in the consolidated shares will take place in board lots of 100 consolidated shares at 9 am on Mar 20 – the effective trading date.
The timeline comes as the group outlines its near-term plans, including resuming trading on the Singapore Exchange (SGX) in seven days. On Tuesday, it received a letter from the SGX Regulation, which showed no objection to its trading resumption proposal, barring certain conditions.
The company has fulfilled these conditions, said interim chief executive Lim Teck-Ean in a response to a question at a dialogue organised by the Securities Investors Association (Singapore).
No Signboard shares have been suspended since Jan 24, 2022, when it last traded at S$0.031, versus its initial public offering price of S$0.28.
The group suspended its trading after it was unable to demonstrate that it could continue as a going concern.
In its latest announcement, No Signboard said it would update shareholders on the exact dates for the lifting of the trading suspension and the resumption of trade in its consolidated shares in due course.
