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ENERGY & OFFSHORE | Staff Reporter, Singapore

Technics Oil & Gas resumes trading after major divestment deal falls through

A reverse takeover will no longer occur.

Trading of Technics Oil and Gas’ shares resumed today after being suspended for over a month.

The company first halted trading of its own shares on January 5, when it revealed that it was in talks with several parties regarding a potential major divestment and a reverse takeover.

The company revealed on February 15 that the negotiations have failed to turn omtp definitive agreements, and that it has ceased discussions with the potential purchasers.

“The Company and the potential parties have not been able to reach the stage to enter into definitive agreements on these potential major transactions, and have accordingly ceased negotiations,” the company said.

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