- Schrole Group (SCL) ends week in a trading halt as it plans 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
- Company shares will be paused until Tuesday, November 23, or when more information about the raise is released to the market
- On the market, Schrole Group last traded at 1.1 cents per share
Schrole Group (SCL) has ended the week in a trading halt as it plans an upcoming capital raise.
Currently, it is not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Tuesday, November 23, or when more information about the raise is released to the market.
Schrole offers human resources management software and training solutions for the international and domestic education sector.
The company recently released its September quarter results, which saw it cash receipts grow 28 per cent to $1.1 million, compared to the second quarter.
Customer numbers for Schrole Connect, Schrole’s flagship product, increased by nine percent from 386 in thew June quarter to 419 in the September quarter.
Annual revenue for the CY2020, continues to grow, with the company recording the revenue at $6.1 million, an eight per cent growth.
The company will continue to expand its products into new geographies such as Europe and North America.
On the market, Schrole Group last traded at 1.1 cents per share.