- Communication services company Aeeris (AER) has entered a trading halt while it plans and completes an equity raise
- AER hasn’t said how much it hopes to raise or how it will spend the money, but it has disclosed that the money will be raised through a placement
- Aeeris’s technology helps businesses monitor workers, assets and operations to instantly communicate any risks, disasters or hazards wherever they are
- The company expects to come out of the trading halt on October 1, by which time the details will be released
- AER’s shares last traded at 15 cents on September 28
Aeeris (AER) has placed its shares in a trading halt while it plans and completes an equity raise.
The company hasn’t said how much it hopes to raise or how it will spend the money. All that is known at this stage is that the money will be raised through a placement.
Aeeris helps businesses minimise risk, mitigate the impacts of natural disasters, as well as manage other business interruption threats through multi-channel technology and information services.
AER does so using products such as All Alerts and Situation Room which essentially help to digitally monitor and protect workers and assets.
Newsflow for the company has been relatively quiet as of late, with the most recent announcement being its financial report for the 2021 financial year.
Aeeris saw a 55 per cent uplift in cash inflows from customers which totalled $2.92 million across the entire year as well as a 44 per cent growth in revenue to $2.54 million.
The company also posted a 402 per cent increase in profit from a $154,801 loss in FY20 to $467,854 in FY21.
Further, its cash position improved from just under $800,000 at the start of FY21 to roughly $1.43 million at the end of the financial year.
The company expects to come out of the trading halt on October 1, by which time the details would have been released.
AER’s shares last traded at 15 cents on September 28.