On 22 August 2016, The Baltic Exchange Limited (“Baltic Exchange”) and Singapore Exchange Limited (“SGX”) announced that agreement had been reached on the terms of a recommended cash acquisition by which the entire issued share capital of Baltic Exchange would be acquired by SGX Baltic Investments Pte. Ltd., an indirect subsidiary of SGX. The Acquisition is being implemented by means of a scheme of arrangement under Part 26 of the Companies Act to be sanctioned by the Court (the “Scheme”) and a scheme circular was published by Baltic Exchange on 24 August 2016 (the “Scheme Document”).

Baltic Exchange confirms that, on 13 October 2016, the Financial Conduct Authority (the “FCA”) gave its approval of the Acquisition for the purposes of Condition 1.1(a) of Part Three of the Scheme Document and that such condition has now been satisfied.

Accordingly, following the approval of the Scheme by Baltic Exchange shareholders on 26 September 2016 and in light of the decision by the FCA, the Court Hearing to sanction the Scheme (initially expected to be in late November 2016) has now been scheduled to take place on 7 November 2016.

The revised expected timetable of principal events for the implementation of the Acquisition is set out below:

Event

Time and/or Date

Scheme Record Time

6.00 p.m on 4 November 2016

Court Hearing

7 November 2016

Effective Date of the Scheme

8 November 2016

Despatch of consideration and payment of the Special Dividend

18 November 2016

The above dates and times are indicative and will depend on, among other things, the date on which the Court sanctions the Scheme and the Court Order is delivered to the Registrar of Companies. To the extent any of the above expected dates or times change, Baltic Exchange will notify Baltic Exchange shareholders by way of press announcement.

The Court Hearing will be held in the Chancery Division (Companies Court) at The Rolls Building, 7 Rolls Buildings, Fetter Lane, London EC4A 1NL.

-End-

For further details please contact:

Clive Weston
The Baltic Exchange – Head of Finance & Company Secretary
E: cweston@balticexchange.com
T: +44 (0)20 7369 1627

For Press enquiries:
Bill Spears
Navigate PR
E: bspears@navigatepr.com
T: +44 (0)20 3326 8461