Incorporated in 1987, Spindex was first listed on the then-Sesdaq in Nov 1998 before it was upgraded to the mainboard in April 2001. The company mainly serves clients in imaging and printing, machinery and automotive systems as well as consumer-related products. Spindex has manufacturing operations in Singapore, Malaysia, China and Vietnam.
In a bourse filing on Dec 29, Spindex says it applied for the court order to sanction the scheme on Dec 22. Written submissions are to be filed to the court by Jan 5 and the hearing will take place on Jan 8.
According to the indicative timetable in the bourse filing, Spindex expects to delist by Feb 13 after the court sanctions the scheme. Spindex says its expected last day of trading will be on or around Jan 19. Spindex shareholders will receive the scheme consideration of $1.43 per share by Feb 11.
As of 9.15 am, shares for Spindex are trading flat at $1.43. The company’s shares are up by 45.92% year to date.
