“In coming to its decision, the SGX-ST had noted, among others, the company’s continuing net loss position after it was placed on the watch-list, as well as its low and decreasing market capitalisation which was at $13.86 million as at July 30,” it adds.
SMI Vantage’s securities will be suspended with effect from September 2 until the completion of the exit offer.
The company is considering its next steps, including making an appeal of the decision.
Shares in SMI Vantage closed 0.1 cent higher or 4.35% up on July 30 at 2.4 cents.
