- Property developer Ultima United (UUL) placed its shares in a trading halt pending a capital raise announcement and a new development acquisition
- Shares will remain in the trading halt until a formal announcement is made to market on or before December 31
- UUL has not disclosed any specific details pertaining to the acquisition or fundraising activities
- The company’s quarterly activities report disclosed a selection of updates including its Cannington and Bentley projects in Western Australia and also hinted a particular market focus for residential properties in Japan
- Prior to the trading halt, UUL shares last traded at 50 cents each
Property developer Ultima United (UUL) placed its shares in a trading halt pending a capital raise announcement and a new development acquisition.
Shares will remain in the trading halt until a formal announcement is made to market on or before December 31.
UUL has not disclosed any specific details pertaining to the acquisition or fundraising activities.
The company’s quarterly activities report disclosed a selection of updates on its projects in Cannington and Bentley projects in Western Australia.
In October, UUL entered a two-year rental agreement with Singapore-based company Rhinox steel for 10 units in Cannington, Western Australia.
Ultima secured 20 weeks or $156,000 worth of rental fees in advance under the arrangement.
The company has also commenced planning and development of the Bentley National Disability Insurance Scheme (NDIS) special disability accommodation (SDA) in Bentley.
In terms of other projects, the board has advised it continues to explore and pursue opportunities in the Australian and Asian property markets and hinted a particular market focus on residential property in Japan.
Prior to the trading halt, UUL shares last traded at 50 cents each.