CSE Global's wholly-owned subsidiary, CSE Global UK, is currently pursuing a separate listing on the London Stock Exchange.

The separation of CSE UK will provide financial independence to both CSE and CSE UK to facilitate future access into capital markets for debt and equity funding to pursue future growth opportunities.

CSE intends to divest its ownership in CSE UK and will continue to operate and enhance the remaining elements of the CSE business based in Asia-Pacific and the USA.

The listing allows CSE to realise the value in British business and redeploy its capital to other business opportunities.

It will also allow CSE UK to grow its healthcare and automation businesses.

CSE will return part of the net proceeds raised from the divestment to shareholders.

Group chief executive and CSE UK managing director Alan Stubbs will devote 100% of his time to focus on the listing.

Mr Lim Boon Kheng, group chief financial officer and CSE Global (Asia) managing director, will be appointed as interim group managing director and an executive board member.

He will relinquish the role of group chief financial officerto Mr Alan O'Reilly.