Addvalue responds to SGX query on unusual trading activity

TECHNOLOGY-FOCUSED investment holding company Addvalue Technologies said on Thursday it has been approached by an unrelated third party, indicating on a preliminary basis, an intention to consider taking a significant interest in the company that may result in a change of control.

Addvalue said it is currently reaching out to the said party to clarify its intention.

The company was responding to a query from the Singapore stock exchange pertaining to unusual trading activity of its shares.

It maintained in its response to the SGX query that it is in compliance with the listing rules of SGX, in particular Mainboard Rule 703 on disclosure of material information.

Shares in Addvalue traded at S$0.037 as at 4.05pm, up 0.2 cent or 5.7 per cent.