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An announcement from Matex International Limited ( (SG:M15) ) is now available.
Matex International Limited has received an originating application from Nanyang Commercial Management Pte. Ltd., challenging the validity of subscription agreements for issuing new shares. The claimant seeks court orders to declare these agreements invalid or to restrain their completion until an extraordinary general meeting is held. The company is currently seeking legal advice and advises shareholders to exercise caution in trading their shares. Additionally, Matex is in the process of onboarding a new sponsor as the current sponsor’s appointment ends.
More about Matex International Limited
Matex International Limited, incorporated in Singapore, operates in the manufacturing industry, focusing on producing and distributing specialty chemicals and dyes. The company serves various market segments, including textiles and industrial applications.
Average Trading Volume: 767,103
Technical Sentiment Signal: Sell
Current Market Cap: S$9.8M
Find detailed analytics on M15 stock on TipRanks’ Stock Analysis page.