|Announcement Title||Notice of 3 Consecutive Years' Losses|
|Announcement Subtitle||Notice of 3 Consecutive Years' Losses|
|Securities||AVI-TECH ELECTRONICS LIMITED (AVI-TECH)
|Date & Time of Broadcast||Aug 26, 2014 18:20|
|Submitted By||Adrian Chan Pengee
|Name of Issuer||AVI-TECH ELECTRONICS LIMITED|
|AVI-TECH ELECTRONICS LIMITED hereby gives notice that
(i) it has recorded pre-tax losses for three (3) most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items); and
(ii) its market capitalisation as at :-
|(a) Last market day on which trading was not suspended or halted||Aug 25, 2014|
|(b) Market capitalisation as of the last market day on which trading was not suspended or halted||S$21,230,169.95|
|The Company wishes to draw investors' attention to Rule 1311 of the Listing Manual which states that the Exchange will place an issuer on a watch-list if it records:
(i) pre-tax losses for the three (3) most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items); and
(ii) an average daily market capitalisation of less than $40 million over the last 120 market days on which trading was not suspended or halted. For the purposed of this rule, trading is deemed to be suspended or halted if trading is ceased for the full market day.
Investors should also note that pursant to Practice Note 13.2 Paragraph 2.1, the Exchange conducts quarterly reviews to identify issuers to be included on the watch-list. The quarterly review will take place on the first market day of March, June, September and December of each year. The Company will make an immediate announcement should it be notified by the Exchange that it will be placed on the watch-list.