- Agribusiness developer Alterra (1AG) has started the new week in a trading halt ahead of a capital raise
- At this stage, it is unclear how much the company is aiming to raise and what the funding will be put towards
- Alterra shares will be paused until Wednesday, September 16, or when it releases more information to the market
- In July, the company appointed John McGlue as Chairman of the board of directors
- And in May, Alterra sold a part of its Dambadgee Springs property to a local farmer for $3.1 million
- Company shares last traded for 5.1 cents each on September 11
Agribusiness developer Alterra (1AG) has started the new week in a trading halt ahead of a capital raise.
At this stage, it is unclear how much the company is aiming to raise and what the funding will be put towards.
Alterra shares will be paused until Wednesday, September 16, or when it releases more information to the market.
In July, the company appointed John McGlue as Chairman of the board of directors. He replaces Trevor Stoney, who remains on the board as a Non-Exeuctive Director.
John was previously a Non-Executive Director at Alterra and joined the board in January 2020.
In May, Alterra sold a part of its Dambadgee Springs property to a local farmer for $3.1 million. The company is selling 913 hectares of its Western Australian property, which it purchased for $4.2 million back in 2017.
Alterra entered two contracts to complete the sale. The first deal covered a $1.6 million sale, settled on July 14, while the second contract is subject to approvals and conditions and is slated for completion before January 2021.
Company shares last traded for 5.1 cents each on September 11.