SMT Holdings Board Warns of Potential Delisting Repercussions
SINGAPORE -- Surface Mount Technology Holdings today warned shareholders that it has failed to find a buyer for their shares and liquidation is possible. The company, which in March was notified of its impending delisting by the Singapore Stock Exchange, is now seeking alternatives including the board repurchase of outstanding shares from minor shareholders, and voluntary liquidation.
Trading will be suspended today, the company said, adding that shareholders should trade with caution.
If liquidation does not occur following the delisting, the company will continue to operate as a private entity.
Following a 2012 bankruptcy filing, SMT Holdings named a new executive director and has reversed course, turning in several straight profitable quarters.
SMT Holdings is traded on the Singapore Exchange and operates in Southeast Asia but is registered in Bermuda.
