ZICO Capital, the sponsor of Catalist-listed Sinocloud Group, has served its notice of termination on Nov 26.
The notification was due to commercial reasons, says Sinocloud.
ZICO Capital has provided the requisite three months notice for the termination of its appointment. Its last day of service will be on Feb 25, 2025, or at an earlier date if both parties agree to it.
Under the Catalist rules, the Singapore Exchange S68 Securities Trading (SGX-ST) will suspend trading in Sinocloud’s shares until it has a sponsor. Sinocloud may also be removed by the SGX-ST from its official list if it does not have a sponsor for over three continuous months.
Sinocloud says it will begin the process of looking for a new continuing sponsor.
Shares in Sinocloud closed flat at 1.3 cents on Nov 27.
