Avancoen Ltd withdraws decision to demerge AMS segment and Octopus Digital

MG News | July 08, 2019 at 12:54 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 8, 2019 (MLN): The Board of Directors of the Avanceon Limited has unanimously rescinded the decision to demerge After Market Support (AMS) segment and Octopus Digital (Private) Limited.

As an alternative, the Board on Monday resolved that the Company shall sell, dispose of or transfer its after-market engineering and technical services related business segment / undertaking (constituted approximately 26% of total revenue of the company as per last audited financial statements for the year ended December 31, 2018) to its wholly owned subsidiary company Octopus Digital, against the issue of shares by the subsidiary in favor of the company.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,374.88 110.96M	-0.95% -1549.44
ALLSHR	98,620.11 386.58M	-0.91% -906.77
KSE30	47,823.16 51.47M	-1.02% -490.65
KMI30	232,733.99 57.93M	-1.23% -2903.19
KMIALLSHR	63,955.68 197.75M	-1.12% -727.41
BKTi	44,724.17 14.61M	-1.01% -457.04
OGTi	33,033.72 5.00M	-1.08% -361.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,615.00	81,920.00 81,055.00	160.00 0.20%
BRENT CRUDE	114.30	115.00 112.74	1.13 1.00%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.55 -1.19%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.80 1.24%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	100.68	101.35 98.84	1.21 1.22%
SUGAR #11 WORLD	20.36	20.47 20.02	0.23 1.14%