JSE-listed biometrics group Muvoni Technology Group says shareholders should be cautious when trading stock as it is in talks.
On Friday, the listed entity published an announcement indicating it is in discussions that could have a material impact on its shares, should the talks be successfully concluded. Muvoni, which used to be called Ideco, did not disclose the nature of the discussions.
Muvoni recently bought intellectual property relating to software used to check fingerprints against the police database, for R6.5 million, from ZNG.
The company is a biometric identity management supplier and provides services, for example, to recruitment companies allowing them to verify fingerprints with the police to check whether candidates have criminal records.
Muvoni has three business units: Ideco Technologies, AFISwitch and Ideco Biometric Security Solutions. It digitised the Department of Home Affairs' paper-based fingerprint records when it was still Ideco.
Its share price closed flat at 11c on Friday as 70 000 shares changed hands.
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