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Does it mean to say buy at 0.8 cent can sell at 1.05 cents?
look@bright ( Date: 24-Nov-2020 10:50) Posted:
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Artivision a step closer to proposed reverse takeover
TUE, NOV 24, 2020 - 9:56 AM
CATALIST-LISTED Artivision Technologies has completed the pre-clearance consultation on certain matters for its plan to acquire electronic payment and online retail business Mobile Credit Payment (MC Payment).
It has also submitted a pre-admission notification to the bourse operator for the proposed deal, which will result in a reverse takeover (RTO) of Artivision.
The company intends to despatch a circular to its shareholders to seek their approval for the transaction by Dec 31, it said in a bourse filing on Monday night.
This comes after Artivision noted earlier this month that the due diligence exercise for the deal had entered its final stage.
In September, Artivision again extended the deadline for the proposed deal - the long-stop date was pushed back to Dec 31, from the previous Sept 30 target - and said its board was intending to submit the pre-admission notification by end-October.
The planned RTO was first announced in May 2018, after Artivision, which used to be a video solutions provider, became a cash company earlier that year.
The firm has until Feb 28, 2021 to complete the transaction and meet the requirements for a new listing on the Singapore bourse, according to its filing on Sept 25, 2020.
In September 2019, Artivision inked an amended and restated conditional sale and purchase agreement (SPA) for the proposed acquisition.
Among other things, the maximum total consideration for all shares and convertible bonds issued by MC Payment was lowered then to about S$93.3 million under that SPA, which replaced the original agreement dated April 27, 2018.
Previously, the total consideration comprised a base consideration of up to S$80 million, an additional consideration of up to S$20 million, and an amount of up to S$25 million in respect of the acquisition of iFashion Group, an online fashion venture platform that MC Payment had been in the process of acquiring.
As at 9.42am on Tuesday, Artivision shares were trading at 0.7 Singapore cent, down 0.1 cent or 12.5 per cent.
On Monday morning, the counter had risen 14.3 per cent or 0.1 cent to 0.8 cent, before the company requested a trading halt at 10.53am. Artivision requested to lift the halt following its announcement later that night.
Artivision a step closer to proposed reverse takeover, Companies & Markets - THE BUSINESS TIMES
pre-consolidation price per share is 0.0105 for RTO, post consolidation will be 0.21 base on 1:20. What is the purpose of the blocking at 0.008? Just DYODD. Anw for me i can' t sell anyway since my avg is higher.
lionelpoh ( Date: 24-Nov-2020 09:37) Posted:
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no worries. can slowly add more for me =x
anw do your DYDD.
Yawn... so fast action over
drifting back to .005? Until further announcement..
drifting back to .005? Until further announcement..
i guess only when people hear the confirmed RTO then they will start buying again. since it was postponed so many times before
going down...
Have been holding Arti for 7-8 years if I can recover 50% of my loss will be happy
im vested! so i believe in the RTO but never say never till it crosses the line so i will keep praying =D
look@bright ( Date: 24-Nov-2020 09:12) Posted:
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If u read the annoucment carefully, the conditions have been satistied/cleared prior to submission of Pre-Admission Notification.
lionelpoh ( Date: 24-Nov-2020 09:10) Posted:
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yea thats so true lol. could be just flaming market sentiments. nevermind believe in the RTO
Circular should be out in 2 weeks time. No point to sell at a lost at this point.
sold off at 0.008 at a loss yday.
very suppressed feeling
It will go past 1.2 cents, not a miracle, only 0.4 cent. My LionGold bought in 2013 until now I average also need 2.3 cents to break even. Need 2 more cents, which means share price needs to increase by 700% from current level. Now that will be a miracle for now.
Smarty ( Date: 23-Nov-2020 21:13) Posted:
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Arti was trading around 0.25 more than 10 years ago
if RTO goes thru it will transform into a fintec co which is in vogue
who knows history may repeat itself
if RTO goes thru it will transform into a fintec co which is in vogue
who knows history may repeat itself
i think mobile payment seems like a good business to run now. however we can only know more after they are made public so stay strong guys! no $1 no sell haha. huat ar!
I would if i had avg more at 0.004 range. At this point i will wait, already waited so long so no point to sell at a lost.
lionelpoh ( Date: 23-Nov-2020 21:39) Posted:
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curious question : so if price got to 0.012 are you gonna sell quickly ? or will you believe in the takeover and hold on ?
look@bright ( Date: 23-Nov-2020 21:33) Posted:
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