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- Pure Hydrogen’s (PH2) company shares have been placed in a trading halt while it undertakes capital raise preparations
- The trading halt is expected to be lifted on or before Monday March 22, when a formal disclosure regarding the raise is made
- Pure Hydrogen has not explicitly indicated how much it is looking to secure from the raise or how it plans to spend the funds
- Despite a lack of information on this front, the company has recently laid plans to finalise its merger with fellow ASX-lister Real Energy (RLE)
- Prior to the trading halt, Pure Hydrogen shares last changed hands at 31.5 cents.
Pure Hydrogen’s (PH2) company shares have been placed in a trading halt while it undertakes capital raise preparations.
Effective today, the trading halt is expected to remain in place until Monday March 22, when a formal announcement regarding the capital raise is made to market.
There’s been no explicit mention as to how much Pure Hydrogen is looking to make from the raise or what it’s got in store for the funds. However, the company has some interesting developments in the pipeline.
Earlier this month, PH2 announced plans to merge with fellow ASX-lister Real Energy (RLE) on March 17 after entering a scheme implementation deal last July.
The merge got the tick of approval from shareholders back in December and after numerous delays, received court approval on March 5.
Pure Hydrogen has roughly 283 million ASX listed shares, with 11 per cent of this owned by Managing Director and Chairman Scott Brown.
Prior to the trading halt, Pure Hydrogen shares last changed hands at 31.5 cents.
