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 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.
See also: Q&M issues letter of demand to Aoxin Q&M’s group CEO
Shares in Metech closed 0.1 cent lower or 2.50% down at 3.9 cents on June 6.
