Final Chance Holdings has exercised his right of compulsory acquisition to acquire all the shares in Second Chance Properties (SGX:528) held by dissenting shareholders, according to a Monday Singapore bourse filing.

Following the compulsory acquisition, Second Chance Properties will become a wholly owned subsidiary of the offeror and will be delisted from the Singapore Exchange, the filing said.

Second Chance Properties' founder and chief executive officer, Mohamed Salleh Marican, and his family had proposed in July this year to privatize the company at SG$0.30 per share through a voluntary, unconditional offer.