JES International Holdings’ controlling shareholder is in no position to make an exit offer, and the company is not aware of any other party that can make such an offer.

The company made the announcement last Friday (Jan 19), following a delisting notification from SGX Regulation on Jan 5.

In an announcement on Jan 13, the company said that it is finalising an agreement to transfer its listing status to a third party company which is seeking to list and quote its shares on Catalist.

The company added that it will make the necessary announcements when there is any further development on the exit offer.

JES shares have been suspended from trading since Mar 4, 2015.