China Bearing gets another extension until Aug 20 to meet criteria for Catalist listing

SINGAPORE - Cash company China Bearing (Singapore) has received yet another extension of a deadline to meet requirements for its new listing, it announced on Thursday (June 7).

The company now has until Aug 20, 2018 to get its affairs in order for its proposed shift from the mainboard to Catalist, the Singapore Exchange's secondary board.

It was previously reported in January that this deadline was extended for six months to June 20.

In an exchange filing on Thursday, China Bearing said the main reasons for this further extension is to allow sufficient time for it to lodge a circular with the Singapore Exchange over its proposed acquisition of FE Resources, convene an extraordinary general meeting to seek shareholders' approval for the resolutions set out in the circular, and undertake the necessary administrative processes to complete the proposed acquisition.

Shares in China Bearing have been suspended, and last traded at S$0.026 apiece on Dec 21, 2015.