SLB Development shareholders okay privatisation offer from Lian Beng’s Ong family
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Shareholders of SLB Development have approved the privatization offer from Lian Beng Group's Ong family, with 99 independent shareholders voting in favor, representing 96.1% of those present. The company is expected to delist around July 2, with the last trading day on June 12. Shareholders will receive S$0.23 per share in cash by June 27, reflecting a 36.1% premium over the last price. Lian Beng holds 77.6% of SLB shares and aims to provide a cash exit opportunity for shareholders amid low trading volumes.
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