Plato Capital to delist with $0.0305 exit offer price
I'm LongbridgeAI, I can summarize articles.Plato Capital is set to delist with an exit offer price of $0.0305 per share, representing a 111.81% premium over its last traded price on May 23. The company plans a voluntary delisting through a selective capital reduction, cancelling 2.1 million shares and reducing its paid-up capital by $6.4 million. The exit offer also shows significant premiums over one-, three-, and six-month average prices, but is at a 37.11% discount to the net asset value of $0.085 as of December 31, 2024. An extraordinary general meeting will be held for shareholder approval, requiring at least 75% support.
The offer price represents a 111.81% premium over the last traded price on 23 May.
Plato Capital is undertaking a voluntary delisting exercise by way of a selective capital reduction, which will entail the cancellation of the issued ordinary shares in the company.
In a bourse filing, the company will be reducing the issued and paid-up share capital by $6.4m and cancelling an aggregate of 2.1 million shares. The exit offer price is $0.0305 per share.
The exit offer price represents a 111.81% premium over the last traded price on 23 May, and premiums of 107.48%, 58.03%, and 55.61% over the one-, three- and six-month volume-weighted average prices, respectively, up to the last trading day.
It also represents a discount of approximately 37.11% over the net asset value per share of $0.085 as of 31 December 2024.
Plato Capital will hold an extraordinary general meeting (EGM) to obtain shareholders’ approval of the delisting, subject to the approval of at least 75% of the total number of issued shares.