Conscience Food - delisting & my thought

Conscience food recently announced a delisting & exit offer to its minor shareholders and it's currently under SGX review and pending for approval. If this is approved, it means for a loss for those who bought shares above the exit offer of 18.4c. 

The argument given by the major shareholder was that the counter was traded illiquididly and it may not appropriate for the major shareholder to keeping listed status as what I thought was they can hardly raise fund at better price. 

This is not a first case for a small counter being forced by the shareholder to be delisted. So to some investors, this is called "liquidity" risk as it actually meant for getting hard to buy or sell through secondary market. As for me, I think that it's necessary for us to play safe not to invest a lot in small and illiquid counter as the shareholder may initiate exit offer to the minor shareholder. Anyway, in this case, conscience food management offered at much higher price than last closing date befofe announcement, so I think it's good for some investors to take the offer and look for better opportunity elsewhere.