Artivision Tech calls for trading halt pending announcement

CATALIST-LISTED Artivision Technologies on Thursday morning requested an immediate trading halt, pending the release of an announcement.

Before Thursday, its latest bourse filing was made on Aug 29, when the company said it had applied for a further six-month extension to Feb 29, 2020, to complete the proposed acquisition of electronic payment and online retail business Mobile Credit Payment, and to meet the requirements for a new listing.

The video solutions provider ceased business operations and became a cash company on Feb 27, 2018, originally having 12 months from that date to secure a new business and stay listed on the Catalist board. In May 2018, it entered into a reverse takeover deal to give up a 70 per cent stake in exchange for Mobile Credit Payment.

Artivision's executive director and chief executive officer, Kenneth Goh Tzu Seoh, quit last month to pursue other career opportunities. Mr Goh's last day with the company was Sept 2. Artivision said it would try to fill the vacancy within two months, or no later than three months. This is because Mr Goh's departure will cause the company's audit committee to have fewer than the requisite minimum of three members as stipulated in the Companies Act and Catalist rules.

Artivision shares last traded on Tuesday at 0.5 Singapore cent.