Metech receives sponsorship termination notice from Novus Corporate Finance

The notice was due to commercial reasons.

Metech International has received a notice of termination from its sponsor, Novus Corporate Finance, citing commercial reasons.

According to the filing, NCF has given the required three-month notice period for the termination, which was served on 6 June. It will be effective on 5 September, unless an earlier date is mutually agreed upon by both parties.

NCF also confirmed that there are no undisclosed instances of non-compliance with the Catalist rules by Metech.

Metech acknowledges that under Rule 746(4) of the Catalist Rules, it must secure a new sponsor to avoid suspension by the Singapore Exchange Securities Trading Limited (SGX-ST). If a new sponsor is not appointed within three months, the SGX-ST may remove the group from its official list.

The company said it is actively seeking a new continuing sponsor and will keep shareholders informed of progress.