SAIL Shares Delisted: SEM’s Decision – QBL Takes Over

In a recent announcement, the Stock Exchange of Mauritius Ltd (SEM) discussed the suspension of trading in the ordinary shares of Soap and Allied Industries Ltd (SAIL) on December 20, 2023.

Additionally, Quality Beverages Ltd (QBL) issued a communiqué on January 15, 2024, regarding the compulsory acquisition of SAIL shares from dissenting shareholders.

SEM has now confirmed that QBL has completed the compulsory acquisition, making them the sole shareholder of SAIL.

This development means that SAIL no longer meets the public spread requirements outlined in DEM Rule.

Consequently, with the approval of the Listing Executive Committee and in accordance with DEM Rule, SEM has decided to delist SAIL’s ordinary shares from the DEM as of the market’s closure on February 29, 2024.

Source: Stock Exchange of Mauritius