- Australian Rural Capital (ARC) has placed its shares in a trading halt ahead of an upcoming capital raise
- The agribusiness investment company advised its shares would be lifted from the trading halt on or before Monday May 10 when further details regarding the raise are made to market
- Australian Rural Capital recently welcomed small-cap funds management company Capital H Management as a new substantial shareholder
- The two parties were said to be in discussions with respect to how to create shareholder value for both parties back in March
- Prior to the trading halt, Australian Rural Capital shares last traded at 22 cents.
Australian Rural Capital (ARC) has placed its shares in a trading halt ahead of an upcoming capital raise.
The agribusiness investment company announced to the market that its shares are likely to remain in a trading halt until the commencement of trading on Monday May 10.
Australian Rural is yet to disclose finer details regarding the raise, revealing only that it is “in the process of making and finalising arrangements in relation to a potential capital raising.”
The ASX-lister’s most recent fundraising activity took place in March, when an investor from Henslow Pty Ltd, Melbourne subscribed for 1,941,936 new ARC shares at approximately 20 cents apiece, raising approximately $388,000.
ARC later welcomed Harley Grosser and Capital H Management as a new substantial shareholder in the company, with ARC disclosing the two were in discussions with respect to how to create shareholder value for both parties.
Capital H Management is a Sydney-based small-cap funds management company and the manager of the Capital H Inception Fund.
The talks were said to be preliminary in nature at the time, but ARC would keep
shareholders and the market informed of any further developments as required.
Prior to the trading halt, Australian Rural Capital shares last traded at 22 cents.