Pelikan hopeful of Swiss delisting

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27 June 2005 – Kuala Lumpur (MAL): Pelikan International is confident that it can secure the delisting of Swiss Pelikan Holdings, in which it has acquired an 87.64 per cent stake.

Pelikan Holdings is set to apply to the Swiss Exchange under special circumstances to be exempted from the 95 per cent minimum to qualify for a delisting.

The company’s president Loo Hooi Keat said: "Our lawyers say this can be done. We will put in a formal application. The indication is that it can be done based on the share movement as there has not been much trading of the shares. We want to own the company 100 per cent. It is too costly to keep the listing."