Adslot Limited (ASX: ADJ) under a trading halt

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Adslot Limited (ASX: ADJ) has requested a trading halt in Adslot’s ordinary shares to facilitate a proposed capital raising, with immediate effect. A two-tranche institutional placement will be undertaken for the capital raising, first tranche will be using the Company’s available capacity under ASX Listing Rule 7.1 while the second tranche will be subject to shareholder approval.

This is in respect to the Capital Raising and the commencement of trading on Friday, 3 August 2018. The Company had received $2.7m from the R&D Rebate Scheme relating to its R&D activities for the year ended 30 June 2017, during the quarter to June 30, 2018. With a decrease of $204k or 9% on the previous quarter’s receipts of $2.2m, cash receipts from customers for the June 2018 quarter were $2.0m.

The stock last traded at a market price of $0.026 and has seen a performance change of -35.00% this year to date.

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