- EQT (EQT) enters into a trading halt ahead of a capital raise and acquisition
- It is not known to the market on how much the company is aiming to raise or how it plans to spend the money, neither does it provide details of the acquisition
- Company shares will be paused until Tuesday, August 23, or when further information has been released to the market
- Shares in EQT last traded at $25.46 on August 18
EQT (EQT) has entered into a trading halt ahead of a capital raise and acquisition.
It is not known to the market on how much the company is aiming to raise or how it plans to spend the money, neither does it provide details of the acquisition.
However, the company has said the raise will be undertaken by way of a pro rata accelerated non-renounceable entitlement offer and institutional placement.
Company shares will be paused until Tuesday, August 23, or when further information has been released to the market.
Also announced today, the company plans to release its full-year results on August 22 with Managing Director Mick O’Brien and Chief Financial and Operating Officer Philip Gentry to conduct a webinar on the day.
Earlier in the week, the company announced Non-Executive Director Anne O’Donnell will retire from her role at the conclusion of the next EQT annual general meeting.
Ms O’Donnell joined the EQT board in 2010 and has served a number of roles, including Chair of the Responsibility Entity Compliance Committee and member of the Board Risk Committee and Remuneration, Human Resources and Nomination Committee.
The board confirmed it will not appoint a replacement, going forward with only seven directors.
Shares in EQT last traded at $25.46 on August 18.