Novus Corporate Finance, the sponsor of Catalist-listed Metech International V3M , has served its notice of termination on June 6.
The notification was due to commercial reasons, says Metech.
Novus has provided the requisite three months’ notice for the termination of its appointment. Its last day of service will be on Sept 5 or at an earlier date if both parties agree to it.
According to Metech, Novus has confirmed that it is unaware of any non-compliance with the Catalist rules by the former.
Under the Catalist rules, the Singapore Exchange S68 Securities Trading (SGX-ST) will suspend trading in Metech’s shares until it has a sponsor. Metech may also be removed by the SGX-ST from its official list if it does not have a sponsor for over three continuous months.
Metech says it will begin the process of looking for a new continuing sponsor.
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Shares in Metech closed 0.1 cent lower or 2.50% down at 3.9 cents on June 6.
