Muvoni sees a loss ahead of delisting

Alt-X listed Muvoni Technology expects to deliver a headline loss per share of approximately 0.39 cents for the six months ended February 2013, compared to the headline earnings of 0.68 cents per share in 2012.

Muvoni is set to de-list from the local exchange after it announced last month that it had received a firm intention from Horizon Investments & Financial Services to acquire all the issued shares in the IT group.

Muvoni Technology specialises in services that include, amongst others, criminal background checks, pre-employment screening, automated fingerprint identification systems and biometric solutions.

The offer price is 20 cents per scheme share and represents a 55% premium to the 9 cents closing price of a Muvoni share on Friday (12 April 2013).

On Monday (20 May), Muvoni advised that the basic loss per share will be approximately 0.39 cents compared to earnings of 2.74 cents per share for the six months ended February 2012.

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Muvoni sees a loss ahead of delisting