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- Poultry and diary processing company TasFoods (TFL) enters a trading halt amid a 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 Friday, April 1, or when further details about the raise are released to the market
- Earlier this year, the company released its 2021 annual results, which saw its sales revenue grow four per cent to $69.4 million, when compared to 2020’s result
- TasFoods last traded at 7.5 cents per share on March 29
Poultry processing company TasFoods (TFL) has entered into a trading halt ahead of an upcoming capital raise.
There is currently no details on how much the company is planning to raise or where the funds will be spent.
The halt means TasFoods shares will be paused until Friday, April 1, or when a further announcement on the raise is released to the market, whichever one comes first.
TasFoods is involved in the production of food products in the dairy and poultry segments.
Earlier this year, the company released its 2021 annual results, which saw its sales revenue grow four per cent to $69.4 million, when compared to 2020’s result.
Sales revenue in the poultry division grew five per cent despite the supply-chain challenges in the sector. Poultry now represents 56 per cent of the group’s total revenue.
“Dairy divisional growth was largely flat on the previous corresponding period which was impacted by the limited ability to pass on input cost rises to customers,” the company said in February.
Cash holdings at the end of 2021, were $1.5 million and total available funds were $4 million.
On the market, TasFoods last traded at 7.5 cents per share on March 29.
