RSH Limited says the Singapore Exchange had on Dec 10 granted an extension of time of up to Dec 31 to restore the public float requirement under Rule 725 of the Listing Manual.

Under Rule 723, an SGX-listed company must ensure that at least 10% of the total number of issued shares (excluding treasury shares) that is listed is at all times held by the public.

RSH says the reason for the waiver is that the company had informed SGX that one of its substantial shareholders will be placing out some of its shares in the company to a third party for the purpose of raising the percentage of securities in public hands to at least 10%, and has requested for time until end of December to do so.