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Long-stop date for Artivision Tech reverse takeover pushed back to end-2020
CATALIST-LISTED video solutions provider Artivision Technologies has again extended the deadline for its planned reverse takeover (RTO) deal, though its board plans to submit a pre-admission notification for the deal to the bourse operator by end-October.
The long-stop date for the RTO by Mobile Credit Payment has been pushed back to Dec 31 by mutual agreement, from the previous target date of Sept 30, Artivision said on Friday evening.
In plans first announced in May 2018, Artivision will give up a 70 per cent stake in exchange for MC Payment, an electronic payment and online retail business.
Artivision, which became a cash company earlier that year, has until Feb 28, 2021 to complete the transaction and meet the requirements for a new listing on the Singapore bourse.
" Good progress has been made on the due-diligence exercise on the target group in respect of the proposed acquisition," the board has now said.
" The company will continue to provide updates to its shareholders, as and when there are material developments, including the company' s progress in meeting key milestones of the proposed acquisition."
Read somewhere in the RTO document that if it does not materialise the co will cease to operate and distribute the funds left in bank acc ($1m?) to shareholders .
But artivision is negative equity if not for Oxley' s Ching' s financial support it would not be able to survive. Hopefully the RTO will go thru this time after 2 years of delay and giving Long term suffering shareholders an exit
But artivision is negative equity if not for Oxley' s Ching' s financial support it would not be able to survive. Hopefully the RTO will go thru this time after 2 years of delay and giving Long term suffering shareholders an exit
If gap up on Monday, it' s better to cut loss and sell off. Cos later if RTO falls through like SBI, then regret for a long time. Good luck
look@bright ( Date: 26-Sep-2020 11:51) Posted:
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yeah, holding for years too but will wait for RTO, am struck above 0.014
Smarty ( Date: 25-Sep-2020 23:02) Posted:
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I think so..
smallsgshare ( Date: 25-Sep-2020 21:18) Posted:
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Have been holding artivision for years
hope to see light at end of tunnel
hope to see light at end of tunnel
So, GAP up on Monday?
Seems like RTO is finally near
As announced by the Company on 2 September 2020, the SGX-ST had no objection to the Company&rsquo s application for a further extension of time to 28 February 2021 for the Company to, inter alia, complete the Proposed Acquisition and meet the requirements for a new listing pursuant to Rule 1017(2) of the Catalist Rules.
The Board wishes to further inform that good progress has been made on the due diligence exercise on the Target Group in respect of the Proposed Acquisition, and barring any unforeseen circumstances, the pre-admission notification in respect of the Proposed Acquisition should be submitted to the SGX-ST by 31 October 2020. The Company will continue to provide updates to its shareholders, as and when there are material developments (including the Company&rsquo s progress in meeting key milestones of the Proposed Acquisition).
https://links.sgx.com/FileOpen/Artivision%20Annc%20%20-%20Extension%20of%20Long%20Stop%20Date%20to%2031%20Dec.ashx?App=Announcement& FileID=632782
As announced by the Company on 2 September 2020, the SGX-ST had no objection to the Company&rsquo s application for a further extension of time to 28 February 2021 for the Company to, inter alia, complete the Proposed Acquisition and meet the requirements for a new listing pursuant to Rule 1017(2) of the Catalist Rules.
The Board wishes to further inform that good progress has been made on the due diligence exercise on the Target Group in respect of the Proposed Acquisition, and barring any unforeseen circumstances, the pre-admission notification in respect of the Proposed Acquisition should be submitted to the SGX-ST by 31 October 2020. The Company will continue to provide updates to its shareholders, as and when there are material developments (including the Company&rsquo s progress in meeting key milestones of the Proposed Acquisition).
https://links.sgx.com/FileOpen/Artivision%20Annc%20%20-%20Extension%20of%20Long%20Stop%20Date%20to%2031%20Dec.ashx?App=Announcement& FileID=632782
will be starting a group chat to gather all fellow followers on this stock.
if keen pm me.
if keen pm me.
another 500k bought today.
With SGX approval, it indirectly indicates that this epayment RTO will be completed successfully. Time to collect first.
Also the covid19 has accelerated digital related services. Being the only Electronic payment counter in SGX, this is good.
Thank you look@bright for your insights
Also the covid19 has accelerated digital related services. Being the only Electronic payment counter in SGX, this is good.
Thank you look@bright for your insights
Ok SGX approved extension. Company to submit pre-admission notification upon receiving pre-clearance.
look@bright ( Date: 01-Sep-2020 21:28) Posted:
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SGX haven give approval but e-payments companies all doing well. this will be a big play if RTO goes through.
Uhuh. Delay again. Feb 2021
if this RTO not going thru then is game over for Artivision already, SGX where will give the company another chance M& A to RTO.
noobnub ( Date: 16-Jul-2020 11:46) Posted:
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i bought already so i believe you M& A. huat ah
johnng ( Date: 09-Jul-2020 11:55) Posted:
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got 0.003 i also want.
noobnub ( Date: 16-Jul-2020 11:41) Posted:
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bought 0.004 so nice
noobnub ( Date: 09-Jul-2020 11:52) Posted:
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maybe OXLEY BOSS M& A artivision...so cheap money for him....MORE TO COME!!!
those buy 7c get ready to lose 50%. very fast go back to 3-4