- RBR Group (RBR) has placed its shares in a trading halt as it prepares for an upcoming capital raise
- The trading halt is expected to lift on January 28, when RBR is set to make a formal announcement regarding the capital raise
- RBR has not indicated how much it is seeking to raise or how it plans to spend the funds
- Prior to the trading halt, RBR Group shares last traded at 1.1 cents each
RBR Group (RBR) has placed its shares in a trading halt as it prepares for an upcoming capital raise.
The labour training and specialist group announced to the market that its shares would remain in a trading halt until January 28, or until a formal confirmation regarding the capital is released, whichever comes earlier.
The company has not made any specific indications as to how much it intends to raise or how it will utilise the funds, stating only that the halt pertains to “considering, planning and executing a capital raising.”
In terms of upcoming activities for the company, RBR flagged progress towards its formal joint venture agreement with Projectos Dinamicos Limitada in developing a construction training camp in Mozambique’s Cabo Delgado.
RBR recently secured a strategic sublease to the established Wentworth campsite which says will enable it to scale up operations and train workers jobs in the nearby LNG industry.
RBR’s UKaid-funded JOBA Construction Skills Internship Program was cut short in October after COVID-19’s impact on the U.K.’s GDP meant its worldwide aid commitments were reduced.
This is RBR’s first capital raise of the year.
Prior to the trading halt, RBR Group shares last traded at 1.1 cents each.