SATS now holds 97.22% of SFI

Singapore Airport Terminal Services Limited (SATS) on Monday said as at 5pm on March 6, 2009, it holds 97.22 per cent of Singapore Food Industries Limited (SFI) shares.

Accordingly, SATS has received sufficient acceptances to exercise its right to compulsorily acquire all the remaining shares in SFI at the offer price of S$0.93 per SFI share and delist SFI from the Singapore Exchange.

SATS has extended the closing date of the offer from 5.30 pm on March 9, 2009 to 5.30 pm on March 23, 2009.

SATS has no intention of extending the offer beyond the revised date.

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