Vox Telecom has renewed a cautionary notice to shareholders for a fifth time, warning it is in talks that could affect its share price.
Though Vox management won’t say what the talks are about, it is widely speculated that the AltX-listed company is hoping to buy out minority shareholders and delist from the stock exchange.
The alternative telecommunications company first notified its shareholders that it was in talks on 13 September 2010. The cautionary was then renewed on 26 October, 7 December and 20 January. Under listing rules, cautionary notices have to be renewed every six weeks as long as discussions that could affect the share price continue.
Vox recently announced that its CEO, Tony van Marken, was leaving the company after five years in its employ. Van Marken, who cited personal reasons for his decision to leave, told TechCentral recently that the discussions referred to in earlier cautionaries would continue despite his decision to step down.
Vox Telecom group MD Doug Reed is taking over many of Van Marken’s day-to-day responsibilities.
The company’s share price was trading down 1c at 37c in mid-morning trade on Thursday. — Staff reporter, TechCentral