Oceanus Receives Approval for Further Extension to Meet Financial Exit Criteria by April

Oceanus Receives Approval for Further Extension to Meet Financial Exit Criteria by April

The SGX-ST has approved Oceanus’ application to further extend its time to meet the financial exit criteria by April 15.

Should the company not meet the requirements of Rule 1314 of the listing manual to exit the watch-list, it will provide a “fair and reasonable” exit offer to its shareholders, and be delisted from the SGX-ST.

The offer also includes a cash alternative as the default alternative.

Oceanus will not receive any further extension should they fail to meet the criteria by the new deadline.

Shares in Oceanus closed 0.6 cent higher or 26.1% up at 2.9 cents on March 11.

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