The SIC is investigating all the relevant circumstances leading to the withdrawal of the offer for Delong Holdings Limited (the “Company”) by Best Grace Holdings Limited. In particular, whether there has been any breach of Rule 17 of the Singapore Code on Take-overs and Mergers (the “Code”). The investing public and shareholders of the Company are advised to exercise caution when dealing with their shares and to refrain from taking any action in respect of their shares which may be prejudicial to their interests.

2   In the interest of ensuring that the on-going investigation is not compromised, the SIC will not respond to requests for comments. The SIC will issue further statements as and when there is any development of public interest.

Issued by Securities Industry Council
11 October 2018