- Environmental technology and infrastructure company Pearl Global (PG1) has entered a trading halt ahead of an upcoming capital raise
- It is unknown how much or why the company is raising capital
- Company shares will be paused until Monday, August 2, or when it announces more details on the raise
- On the market, Pearl last traded at 4.7 cents per share
Pearl Global (PG1) has entered into a trading halt today as it plans an upcoming capital raise.
So far, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, Pearl shares will be paused until Monday, August 2, or when it announces more details on the raise.
Pearl Global is a clean conversion company that converts end of life tyres into sustainable, clean energy and high-value raw materials.
Earlier this month, the company signed a supply agreement with Alex Fraser, a subsidiary of Heidelberg Cement Group, the largest producer of aggregates globally.
The agreement runs for one year with Alex Fraser having four consecutive options to extend the agreement.
Executive Chairman Gary Foster is pleased with the contract.
“We are delighted to have secured the opportunity to service such a large and well-positioned infrastructure group through the clean conversion of waste materials,” he said.
On the market, Pearl last traded at 4.7 cents per share.