MoneyMax wins SGX nod for Mainboard transfer

The group obtained approval-in-principle to exit the Catalist board on 23 January.

MoneyMax Financial Services Ltd. received approval-in-principle from the SGX-ST on 23 January to transfer its listing from the Catalist Board to the Mainboard.

A circular setting out details of the proposed transfer, together with a notice convening the EGM, will be dispatched to shareholders in due course, according to a bourse filing dated 26 January.

The company added that there is no assurance the transfer will proceed, as the approval-in-principle does not indicate the merits of the proposal or guarantee completion.

The approval is subject to shareholders’ approval via a special resolution under the Catalist Rules, and compliance with Mainboard listing requirements, according to a bourse filing dated 26 January.

In addition, it requires the submission of regulatory undertakings by the company, its directors, and its sponsor.

MoneyMax must also complete a compliance placement before the effective date of the transfer and confirm ongoing compliance with applicable Catalist and Mainboard rules.

The company will update shareholders as material developments arise.

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