Ban Leong cancels final dividend amidst compulsory acquisition, upcoming delisting
Ban Leong Technologies has canceled its proposed final dividend of $0.013 per share for FY2025, initially set for approval at the upcoming AGM. This decision is due to the ongoing compulsory acquisition of shares from dissenting shareholders, the impending delisting from the SGX-ST, and a 60-day extension granted by ACRA for the AGM. The cancellation will not impact the acquisition terms, and dissenting shareholders will still receive the full offer price of $0.6029 per share in cash.
It will not affect the payout to dissenting shareholders.
Ban Leong Technologies has announced that it will withdraw its earlier proposal to issue a final dividend of $0.013 per share for the financial year ended 31 March 2025 (FY2025).
Originally announced on 26 May 2025, the dividend was subject to shareholder approval at the upcoming AGM.
It was scheduled for a record date of 8 August 2025 and payment on 22 August 2025.
However, the company rescinded the proposed final dividend due to three main factors: the ongoing compulsory acquisition of shares from dissenting shareholders under Section 215(1) of the Companies Act, the upcoming delisting from the Singapore Exchange (SGX-ST) following the acquisition, and the approval from the Accounting and Corporate Regulatory Authority of Singapore (ACRA) on 28 July 2025 granting a 60-day extension to hold the AGM by 29 September 2025.
As a result, the proposed final dividend, along with the previously announced payment and record dates, has been officially cancelled with immediate effect.
Ban Leong confirmed the cancellation will not affect the compulsory acquisition terms.
Shareholders who did not accept the offer before its close will still receive the full offer price of $0.6029 per share in cash. The terms of the acquisition remain unchanged.
