Its proposed capital cut plan will be used as a delisting offer. Qualified shareholders will receive RMB 3.05 per share (delisting offer price), and the shares to be cancelled due to capital cut plans will reach 2.091,386 shares (approximately 17.17% equity), totaling approximately RMB 6.4 million.
On the other hand, the delisting offer price is 37.11% lower than the company's net asset value per share at the end of last year (4.85 yuan).
Cosima Investments Pte Ltd., the major shareholder who controls the company and Lin Jianan, chairman of Paratu Capital, will not participate in the proposed selective capital reduction plan. They hold a total of 82.83% of the company's equity and will not participate in the vote on whether to approve the capital cut plan.
The delisting offer price is the last price, which means it will not adjust the price. It pointed out that the delisting offer price was 111.81% higher than the final trading price of the company's stock on May 23, and 107.48%, 58.03% and 55.61% higher than the stock's one-month, three-month and six-month trading average, respectively.
Kelly board listed company Plato Capital announced that it will voluntarily delist the company through a selective capital reduction plan, with a delisting offer price of RMB 3.05 per share, which is the final price.
Palatu Capital announced on Monday (May 26) that the delisting plan must be approved by shareholders and obtain at least 75% of the support votes before it can be passed. It must make a fair and reasonable exit offer, and the cash option is the default option.
Palatu Capital is a system comprehensive service provider focusing on providing customized software solutions to help customers automate, integrate and streamline business processes. It has started operations in Malaysia and its operations are currently distributed to the Philippines, Hong Kong and India.
Palatu Capital has appointed Asian Corporate Advisors Pte Ltd as an independent financial advisor to advise the company's directors on the delisting offer and the proposed selective capital reduction plan.