Azeus Systems receives investment offer from third-party investor

IT solutions and products provider Azeus Systems BBW : BBW 0% on Friday (Oct 15) morning said its major shareholder Lee Wan Lik had been approached by a third party investor to explore an investment in the company.

This was in response to a query raised by the Singapore Exchange. The bourse operator had on Thursday (Oct 14) flagged "unusual price movements" in the counter, and asked Azeus Systems for a possible explanation for it.

Azeus Systems said Lee has, upon the query, informed that he has not entered into any specific discussions nor signed any binding investment agreement with the third-party investor.

Shares of the company on Thursday jumped 20.5 per cent or S$1.60 day on day to finish at S$9.40. About 45,900 shares changed hands during the day.

On Friday, its shares rose by a further 2.1 per cent or S$0.20 to close at S$9.60.

Azeus Systems said it is not aware of any information not previously announced concerning the company, its subsidiaries or associates which may lead to joint ventures, mergers, acquisitions or purchase or sale of a significant asset.

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The company, however, noted the offer received by Lee "for completeness". It also confirmed its compliance with listing rules.

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