In a filing with Bursa Malaysia today, the company said the delisting exercise, which marks the completion of its privatisation by Sime Darby Bhd, was under paragraph 16.07(a) of the main market listing requirements.

UMW’s shares were already suspended by Bursa Securities on Feb 9 following the expiry of five market days from the extended closing date of the takeover offer by Sime Darby.

Sime Darby previously extended the closing date for its RM5 per share offer to take UMW private to Jan 31, about two weeks later than the original deadline of Jan 17.

As at Jan 31, Sime Darby already held 98.86% of the total shares in UMW, said CIMB Investment Bank Bhd in a statement on behalf of Sime Darby.

On the same date, UMW applied to Bursa Securities to withdraw its listing status.

As at 4.52pm, Sime Darby’s share price was up by one sen or 0.41% at RM2.47, giving it a market capitalisation of RM16.83 billion.