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RESTAURANT operator No Signboard will resume trading when the market opens on Friday (Mar 15), more than two years after it voluntarily suspended its trading.
In a bourse update on Thursday, the Catalist-listed company said that Singapore Exchange Regulation (SGX RegCo) gave it the go-ahead to resume trading as it had satisfied the necessary conditions to do so.
These conditions included seeking a legal opinion on the validity of the resolutions passed at the group’s November 2022 extraordinary general meeting, and disclosing pro forma financial statements in relation to the acquisition of a new catering service business.
This week, the company, which has been embroiled in a series of lawsuits, also outlined its plans for the near-term, including consolidating its shares six to one.
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.
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No Signboard shares have been suspended since Jan 24, 2022, when it traded at S$0.031, down from its initial public offering price of S$0.28.
The group suspended its trading after it was unable to show that it could continue as a going concern.
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