CPN Plans to Delist GLAND in 12 Months, but under Feasibility Study
In the submission letter from CPN late September, saying that they may delist GLAND from the listed company in the stock market. Today, CPN has made it clear that the plan of delisting GLAND in 12 months is under feasibility study.
Central Pattana Public Company Limited (CPN) has confirmed its intention of delisting Grand Canal Land Public Company Limited (GLAND) from being listed securities in the Stock Exchange of Thailand (SET) during the period of 12 months after the end of the tender Offer.
However, the delisting plan is still under the feasibility study by CPN in light of the applicable laws and regulations, including (without limitation) the possibility of the delisting being approved by the shareholders of the Business which has not reached a conclusion on delisting of GLAND from being a listed company in the SET.
If CPN decides to delist the Business, it will ensure that the delisting of the securities of the Business will be in compliance with the relevant regulations regarding the delisting. In addition, the delisting will be subjected to the approval from the shareholders meeting of the Business and the approval from the SET.
