The JSE announced today that Community Technologies (C-Tech) shares have been suspended on the bourse at the request of the company`s directors.
C-Tech last communicated with investors on 1 February to inform that it was to change its name and focus on a reverse takeover.
C-Tech was to be renamed Beget Holdings, and become a provider of advance services delivered via cellular and Internet technology. This was a move away from its previous focus as a computer distribution company.
The company has often found itself on the wrong side of JSE regulations, with its year-end results being disclaimed by auditors in August last year and at that time it had yet to appoint a sponsor which was also in contradiction of JSE rules.
As part of its reverse takeover, C-Tech was to apply to the JSE for a switch of its listing from the IT sector to either the development capital or venture capital sectors.
The company could not be reached telephonically as its listed telephone number is no longer available on the Telkom system, and the reason behind the suspension of the share remains unclear.
The share has been suspended at 8c.
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