Artivision Technologies

Artivision seeks extension of long stop date for reverse takeover of e-payment solutions firm

SINGAPORE (Jan 2): Artivision Technologies has signalled a delay in its plans to acquire a 100% stake in e-payment solutions provider Mobile Credit Payment (MC Payment), as the group is now in discussions to extend the long stop date of its acquisition, which was originally due on Dec 31, 2018.

Artivision Technologies moves ahead with RTO of e-payment solutions provider for higher consideration of up to $125 mil

SINGAPORE (May 3): Artivision Technologies has executed a conditional sale and purchase agreement to acquire a 100% stake in e-payment solutions provider Mobile Credit Payment for a total consideration of up to $125 million.

If completed, the proposed acquisition will result in a Reverse Takeover (RTO) of Artivision.

See: Artivision Technologies in reverse takeover of e-payment solutions provider for at least $80 mil

Artivision Technologies in reverse takeover of e-payment solutions provider for at least $80 mil

SINGAPORE (Oct 31): Artivision Technologies is transforming itself into an electronic payment solutions provider.

The company has signed a conditional and non-binding Heads of Agreement (HOA) to acquire 100% stake in Mobile Credit Payment or MC Payment for a total consideration of not less than $80 million.

If completed, the proposed acquisition will result in a Reverse Takeover (RTO) of Artivision.

Artivision Technologies to sell Artimedia subsidiary to CTO for $5 mil

SINGAPORE (June 11): Artivision Technologies has entered into an agreement to sell Dr Ofer Miller, its Executive Director and CTO, its entire stake in subsidiary Artimedia for $5 million.

Artimedia is in the business of sales and marketing by providing value added monetisation services for digital advertisement.

In explaining the disposal, Artivision says Artimedia has incurred losses since incorporation and that the subsidiary requires a substantial amount of funding which is difficult to obtain.

Artivision FY17 loss doubles to $16 mil on higher expenses

SINGAPORE (May 26): Artivision Technologies' FY17 net loss doubled to $15.9 million, or 1.2 cents per share, from a year ago on higher expenses.

For 4Q17, net loss tripled to $8.7 million from $2.8 million.

Revenue for the full year nearly doubled to $21.75 million from $11.35 million in FY16, driven mainly by the group’s media solutions subsidiary, Artimedia Technologies, which generated revenue of $14.54 million in FY17 as compared to $3.66 million in FY16.

Oxley’s Ching resigns from Artivision’s board

SINGAPORE (Sept 30): Ching Chiat Kwong, executive chairman of developer Oxley Holdings, has resigned from the board of Artivision Technologies “to pursue other interests”.

With nearly 150 million shares, or a 16% stake, he is the second largest shareholder in Artivision, which is in the business of selling online video advertising.

Artivision Tech’s 1Q loss widens to $3.5 mil despite higher revenue

SINGAPORE (July 31): Artivision Technologies’ 1Q17 net loss widened to $3.48 million from $1.8 million in 1Q16 despite higher revenue and gross profits.

The weaker bottom-line was mainly due to higher administrative and finance expenses as well as higher cost of sales stemming from subsidiary Artimedia Technologies’ acquisitions of video inventories from publishers.

Lifebrandz to acquire goldmine business after dumping health and wellness plans

SINGAPORE (July 12): Lifebrandz is making a foray into the goldmining industry.

Lifebrandz said it had entered into a non-binding term sheet on Tuesday with Asidokona Mining Resources to acquire the entire issued and paid-up share capital of Tolukuma Gold Mines.

The purchase consideration of US$212 million ($286 million) will be satisfied in its entirety by the allotment and issue of new Lifebrandz shares.

STI closes 0.24% higher at 2,773.31

SINGAPORE (May 26): Singapore stocks closed higher on Thursday, helped by the buying of energy shares as oil prices passed the US$50 a barrel mark.

As at 5.04pm, the benchmark Straits Times Index was up 6.65 points or 0.24% at 2,773.31. The broader market saw 975 million shares with a value of $775 million shares traded. There were 207 gainers against 180 losers.

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