- Consumer goods developer Jatcorp (JAT) places its shares in a trading halt ahead of a proposed capital raising
- The company will remain in the halt until March 31 or when more details are released, whichever occurs first
- On March 25, Jatcorp revealed it had entered a deal with Australian natural food manufacturer Sanmik Natural Foods to develop ice cream and yogurt
- This agreement represents a significant extension to Jatcorp’s business and is one of multiple agreements expected to be signed as the company looks to capitalise on its products
- Shares in Jatcorp last traded at two cents each on March 25
Consumer goods developer Jatcorp (JAT) has placed its shares in a trading halt ahead of a proposed capital raising.
The company will remain in the halt until March 31 or when more details are released, whichever occurs first.
Jatcorp is yet to disclose how much it intends to raise or what it will use the funds for once raised.
On March 25, Jatcorp revealed it had entered a deal with Australian natural food manufacturer Sanmik Natural Foods to develop ice cream and yogurt products.
This agreement represents a significant extension to Jatcorp’s business and is one of multiple agreements expected to be signed as the company looks to capitalise on the interest in its products.
Jatcorp last tapped investors for cash in February when it undertook a $6 million share purchase plan.
Eligible shareholders were able to subscribe for up to $30,000 worth of shares without incurring any brokerage or transaction costs.
Shares were priced at 1.9 cents, representing a 15.5 per cent discount to Jatcorp’s five-day volume-weighted average price.
Jatcorp said it would use the money to reduce its debt and fund working capital.
Shares in Jatcorp last traded at two cents each on March 25.