Aspial Lifestyle gets SGX nod for Mainboard transfer bid

The move still needs shareholder approval.

Aspial Lifestyle has received approval in-principle from the Singapore Exchange for its proposed transfer from Catalist to the Mainboard.

The approval is subject to conditions, including compliance with SGX-ST listing requirements and shareholder approval by special resolution under Rule 408(5) of the Catalist Rules.

Aspial Lifestyle said it has submitted the required written undertakings and confirmation to SGX-ST. These include undertakings to comply with Mainboard requirements and confirmation that it is in compliance with applicable Catalist rules.

The company said it will seek shareholder approval for the proposed transfer at an extraordinary general meeting. A circular containing details of the transfer and the notice of meeting will be despatched in due course.

Aspial Lifestyle said the approval in-principle should not be taken as an indication of the merits of the proposed transfer, the company, its subsidiaries, or its securities.

It also cautioned that there is no certainty shareholder approval will be obtained or that the proposed transfer will eventually proceed.

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