Vard Holdings looks set to exit the Singapore Exchange (SGX) after shareholders voted overwhelmingly to delist the company.

At an extraordinary general meeting (EGM) on Monday 96.5% of the shares were voted in favour of the delisting proposal. Some 3.5% voted against it.

However, the vote did not pass by without some controversy in what has been a long and drawn out process that has had some minority shareholders up in arms.