MC Payment (formerly: Artivision Technologies)

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#11
Business Times - 10 Jun 2011

Artivision tops active list with 104m shares changing hands


Stock up 10% after company says it will raise $2.5m via private placement

By VICTORIA HO

AFTER a day of halted trading, Artivision topped the most active list on the Singapore Exchange yesterday with some 104 million shares changing hands.

The price of the highly speculative counter jumped 10 per cent after the company announced that it will be raising $2.5 million through a private placement.

The company, which has seen its share price go through a rollercoaster ride over the last month, closed yesterday at 21.5 cents, up from Tuesday's 19.5 cents.

It had called for a trading halt on Wednesday, pending an announcement.

Artivision has placed 14.71 million new shares with private investor Quek Yiang Hang at 17 cents a share, making up 2.98 per cent of its enlarged issue share capital after the placement.

The placement price is a discount to the volume- weighted average price of 18 cents, based on the trades done on Tuesday.

The $2.5 million is expected to help calm the market, which saw punters dropping the stock over the past two weeks after the company revealed a $5.7 million loss and negative equity of $965,000 in its annual report.

This was after the stock grabbed the headlines when its price surged five-fold to hit a high of 29 cents after the company unveiled an online advertising application for Facebook last month.

However, the stock started plummeting after the company clarified that it did not have a commercial agreement with Facebook for the application.

That, in combination with its annual financial report, saw the price crash 50 per cent over five days to a low of 11 cents last week.

Philip Soh, Artivision's chief executive and chairman, told BT that the placement agreement is a signal to investors and shareholders that the company is committed to seeing its journey through with the application.

'We have found investors to take up a small chunk and believe in where we're headed. I believe once we have a commercial agreement with Facebook, our share price will behave accordingly.'

Mr Soh said the company, which provides Israeli- invented facial recognition software, is in the midst of running in its systems to test the new Facebook application.

He claims that the product is the first of its kind in the market, and that its video and photo analysis technologies are unique to the company.

He added that the company's technology is used in some ad networks like US-based ValueClick, which in turn cater to large publishers like CNN and ESPN.

Its Facebook product, called Advision, promises users a way to monetise their content like videos and photos on the popular social networking site.

Artivision is currently in discussion with Chinese social networking site Renren and VKontakte of Russia.

'It's a matter of time before we iron out the commercial arrangements with Facebook,' said Mr Soh.

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#12
Would it be better for IBM to acquire Artivision?
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#13
Has the commerical arrangement with facebook being worked out? this is another speculative counter with lots of volume...
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#14
this is one of the counters I like best for arbitrage/turnaround trades Smile

Buy below 20 cents and sell above 20 cents .

Plenty of liquidity...u can buy up to 1000 lots and dump it as easily as u buy it Smile
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#15
If it was so good, Andy Lim wouldnt have dumped it at 30cents per share, from what I know, its a playground stock for the oxley boss
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#16
People are playing on the take-over rumour plus ranging play...
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#17
Alamak - another darling touch - this time round by high flying Oxley boss

Artivision surges after rights issue
By
Ven Sreenivasan
ven@sph.com.sg
print |email this article
application/pdf iCONThe Oxley effect?

SHARES in Artivision Technologies surged by some two-thirds yesterday following the completion of a rights issue which saw the emergence of Ching Chiat Kwong of Oxley Holdings fame as a substantial shareholder.

Yesterday, the stock rose from 2.9 cents to a high of five cents - a whopping 72 per cent - before closing for a net 1.9 cents or 65 per cent gain at 4.8 cents. The two-for-five rights issue at two cents a share saw Mr Ching take up over 17 million rights shares, and an additional 15.2 million unsubscribed shares of Algotech, the vehicle through which executive chairman Philip Soh controls the company.

Mr Ching had earlier invested $5 million in Artivision via a convertible loan, at the conversion price of 20 cents per share, for 25 million shares. Subsequently, he purchased further shares in the open market, to increase his stake to over 43 million shares or 6.8 per cent of Artivision. His cost is estimated at about 15 cents per share. But this average would come down somewhat following his latest purchase of 32 million rights shares, which raises his Artivision stake to almost 76 million or 8.6 per cent. Mr Soh's stake is diluted to 23 per cent via 208 million shares, from almost 28 per cent via 175 million shares prior to the rights. All this comes after Artivision undertook a rights issue of up to 273.4 million new shares to raise gross proceeds of $5.46 million.

Mr Ching is now a non-executive director of Artivision. Still, at current levels, Artivision is far below its February 2012 highs of around 31 cents.
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#18
Established E-Payment Solutions Provider in Asia Pacific, MC Payment, Slated to be Amongst the First SGX-listed Fintech Firm via Proposed RTO Deal with Artivision

Highlights :
* Artivision signs conditional and non-binding Heads of Agreement ("HOA") to acquire 100% stake in Mobile Credit Payment Pte. Ltd. ("MC Payment")
* Base Consideration of S$80.0 million and Additional Consideration (equivalent to cash raised by MC Payment from the date of the HOA until Completion following MC Payment’s fund-raising activities)
* Expansion into the fintech business aims to breathe new life into Artivision as it repositions for long-term growth
* Veteran executive, Mr Ching Chiat Kwong will remain a key shareholder and play an integral role in connecting MC Payment to brick-and-mortar businesses via his extensive business network in Asia Pacific

More details in :
1. http://infopub.sgx.com/FileOpen/Media%20...eID=476238
2. http://infopub.sgx.com/FileOpen/Head%20o...eID=476237
Specuvestor: Asset - Business - Structure.
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#19
Interesting to see Oxley boss is back in the spotlight with the latest boardroom tussle.

MC Payment's controlling shareholder seeks place on board along with two ousted directors

DIGITAL-payments services firm MC Payment has received two letters from controlling shareholder Ching Chiat Kwong, expressing his wish to nominate himself, along with his son Shawn Ching and Harry Ng Weng Sui as directors of the company.

The elder Mr Ching, who holds 27.06 per cent of the issued company shares, plans to formally requisition an extraordinary general meeting (EGM) to make this happen. He is also executive chairman and chief executive of property developer Oxley Holdings.

https://www.businesstimes.com.sg/compani...two-ousted
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