- Data logistics company Kyckr (KYK) has commenced the week in a trading halt as it plans for an upcoming capital raise
- Currently it is unknown how much the company is aiming to raise or where the funds will be spent
- The trading halt means company shares will be paused until Wednesday, August 25, or when more information about the raise is released to the market
- On the market, Kyckr last traded at 4.4 cents per share
Kyckr (KYK) has entered a trading halt as it plans for an upcoming capital raise.
So far, it is not known how much the company is aiming to raise or where the funds will be spent.
The trading halt means company shares will be paused until Wednesday, August 25, or when more information about the raise is released to the market.
Kyckr is a data logistics company that provides Know Your Bank (KYB) and Know Your Customer (KYC) (for businesses) services using legally compliant information.
Last week, the company made changes to its board and directors.
Chairman Benny Higgins and Non-Executive Director Jacqueline Kilgour will retire from the Kyckr Board.
The pair have retired due to the increasing levels of responsibilities in the UK in their other roles.
CEO Ian Henderson thanked them for their commitment and guidance to the company.
“Benny and Jacqueline have provided both myself and the business significant direction and support over the past two and a half years as we have repositioned the Kyckr business,” he said last week.
Additionally, Kyckr appointed George Venardos to the board as Non-Executive Director. Mr Venardos held a 10-year role as Chief Financial Officer at Insurance Australia Group, the largest general insurance company in Australia and New Zealand.
On the market, Kyckr last traded at 4.4 cents per share.