TalkMed shareholders on Tuesday (Jul 15) overwhelmingly approved a privatization offer from Tamarind Health, with 98 shareholders (89.1% of those present) voting in favor. The resolution, backed by holders of 1.2 billion shares (99.9% of votes cast), paves the way for the company’s delisting at S$0.456 per share.
The deal, proposed by Tamarind-managed TW Troy on Dec 23, 2024, received regulatory clearance from Singapore’s Competition and Consumer Commission on Jun 27. Following shareholder approval, TalkMed will now seek court sanction for the scheme, with a hearing expected around Aug 5.
Trading of TalkMed shares is set to cease around Aug 8, with books closing on Aug 19. If court approval is granted and conditions met, the scheme will take effect on Aug 20, with payment to shareholders due by Aug 29 ahead of delisting by Sep 2.
The company also requested a lift of its trading halt on Tuesday evening. Its shares last traded at S$0.455.
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