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- To become first digitalpayments service provider listed on SGX
- RTO of Catalist-listedArtivision Technologies Ltd. approved at EGM with expected completion on 18 Feb2021
- Artivision Technologies Ltd.will be renamed to MC Payment Limited
- Well-positioned to capitaliseon ASEAN's booming digital payments market
SINGAPORE - Media OutReach - 26 January 2021 - Artivision Technologies Ltd. (SGX:5NK) ("Artivision",the "Company" or the "Group")shareholders approved the proposed reverse takeover (RTO) of electronicpayments company, Mobile Credit Payment Pte. Ltd. ("MC Payment"), at anExtraordinary General Meeting (EGM) in Singapore last Friday. With the expectedcompletion of the acquisition on 18 February 2021, Artivision will be renamed MCPayment Limited, and is set to become the first listed digital payments servicesfirm on the SGX-ST.
Established in 2005 and regulated by the MonetaryAuthority of Singapore (MAS) under the Payment Services Act 2019, MC Payment holdsa major payment institution licence and is a Singapore-based, online-to-offline(O2O) financial services technology company with a fully integrated platform andwith a focus on servicing merchants in the retail, transportation and food andbeverage industries.
The proposed acquisition of MC Payment is expectedto be completed on 18 February 2021. ZICO Capital is the Sponsor and FinancialAdviser in respect of the Proposed RTO and Evolve Capital Advisory is thefinancial adviser to MC Payment.
The Company is of the view that MC Payment's listingcomes at an opportune time, with digital payments surging in Southeast Asia amidstthe rise in online and e-commerce transactions, in light of safe-distancingmeasures imposed by respective government and general public's concerns overthe COVID-19 outbreak. The Group retains a competitive edge with its accessibility,omni-channel unified commerce capabilities and ability to leverage on itsplatform for additional business enhancing value-added services, leveraging onits position as one of the few licensed payment providers with a regionalpresence and a scalable payment infrastructure.
Currently, MC Payment has a presence in fourcountries - Singapore, Malaysia, Indonesia and Thailand - with ambitions tobecome a regional player. With digital payments in ASEAN expected to triple toUS$1.5 trillion (S$2 trillion) by 2030[1],the Group is well-placed to capitalise on this significant and growing marketopportunity, given its established infrastructure and expanding geographical footprint.
Future growth avenues for the Group includepenetrating new geographical markets through mergers and acquisitions, jointventures and/or franchises, developing new technology and other paymentsolutions, as well as rolling out new value-added services for merchants, toboost customer retention and expand its customer base.
"We're expecting a robust growthtrajectory for the Southeast Asian payments industry, following a surge indigitisation, spurred by increased access to 5G mobile technology, blockchainand AI, coupled with the rapid rise of e-commerce. We look forward to anexciting future in the digital payments industry, one that is filled with immensepossibilities and opportunities," saidMC Payment Chief Executive Officer, Anthony Koh.
[1] Thisinformation was extracted from a media release entitled "Digital payments inAsean to triple to US$1.5t by 2030: report" published by The Business Times on16 October 2020, which can be accessed at: https://www.businesstimes.com.sg/asean-business/digital-payments-in-asean-to-triple-to-us15t-by-2030-report#:~:text=DIGITAL%20payments%20in%20Asean%20are,Global%20Research%20Asean%20Next%20report., dataaccessed on 26 January 2021.
This press release prepared by MC Payment. (the"Company") does not constitute, or form part of, an offer to sell orthe solicitation of an offer to subscribe for or buy any securities, nor thesolicitation of any vote or approval in any jurisdiction, nor shall there beany sale, issue or transfer of the securities referred to in this press releasein any jurisdiction in contravention of applicable law. Persons requiringadvice should consult their stockbroker, bank manager, solicitor, accountant orother independent financial consultant.
This press release should not be relied upon asa representation of any matter that an advisor or potential investor shouldconsider in evaluating the Company. The Company and its related bodiescorporate or any of its directors, agents, officers or employees do not make anyrepresentation or warranty, express or implied, as to the accuracy orcompleteness of any information, statements or representations contained inthis press release, and they do not accept any liability whatsoever (includingin negligence) for any information, representation or statement made in oromitted from this press release.
This press release contains certain forwardlooking statements which involve known and unknown risks, delays anduncertainties not under the Company's control which may cause actual results,performance or achievements of the Company to be materially different from theresults, performance or expectations implied by these forward lookingstatements. The Company makes no representation or warranty, express orimplied, as to or endorsement of the accuracy or completeness of anyinformation, statements or representations contained in this press release withrespect to the Company.
It is acknowledged that the Company will notundertake any obligation to release publicly any revisions or updates to theseforward-looking statements to reflect events, circumstances or unanticipatedevents occurring after the date of this press release except as required by lawor by any appropriate regulatory authority.
About MC Payment
MCPayment is principally engaged in the provision of merchant payment servicesand digital commerce enabling services, offering online-to-offline (O2O) solutionsthrough a fully integrated platform with a focus on servicing merchants in theretail, transportation and food and beverage industries. Its end-to-end paymentplatform offers comprehensive solutions for merchants, ranging from hardwareand software to data analytics and other technology-driven, value addedservices tailored to specific industries. Its solutions cater to merchants withboth on-line and off-line presences, provided through a unified platform digitalisingengagements across all channels. MC Payment currently has a presence in fourgeographical markets - Singapore, Malaysia, Indonesia and Thailand - withambitions to become a regional player.
For more information, please visit us at https://mcpayment.com/
