- Mobile data provider Flexiroam (FRX) recently entered a trading halt ahead of a planned capital raising
- The telecommunications business will announce the details of the raise on or before Monday, October 25
- The company’s securities will remain halted from trading on the ASX until it releases the fundraise announcement
- Flexiroam spent the past few months focused on its leadership team, appointing a new Chief Technology Officer and Chief Operation Officer
- Shares in FXR last traded at 3.4 cents each on October 20
Mobile data provider Flexiroam (FRX) has entered a trading halt ahead of a planned capital raising.
The telecommunications business provides internet and phone connections for multiple devices across the globe, with 580 network operators worldwide.
FRX entered the halt on Thursday and said it would announce the details of the raise on or before Monday, October 25.
The company’s securities will remain halted from trading on the ASX until it releases the full fundraise announcement.
Flexiroam has spent the past few months focused on its leadership team, appointing a new Chief Technology Officer and Chief Operation Officer.
Jon Gregory has taken on the COO role and is based in Malaysia, while Michael King has stepped into the CTO role and will work out of London.
At the time the new leaders were announced, Flexiroam CEO Marc Barnett said he was very pleased with the new appointments.
“I wanted to build a world class leadership team capable of growing the business to
its full potential and executing on the opportunity in front of us,” Mr Barnett said.
“The additions of Mike and Jon complete the high calibre leadership team and sets us up to build on the strong operational performance we have delivered in recent months.”
Before today’s trading halt, shares in Flexiroam were trading at 3.4 cents each on Wednesday, October 20.