As per the release on Australian Securities Exchange or ASX, the shares of Sky and Space Global Limited (ASX: SAS) would be in the trading halt as requested by Sky and Space Global Limited. Talking about the management, Mr. Meir Moalem is the Chief Executive Officer (or CEO) and Managing Director of Sky and Space Global Limited and Mr. Meidad Pariente is the Chief Technical Officer (or CTO).
According to the release, the decision about the trading halt has been taken because an announcement is pending to be made by the company. The release stated that, till the ASX decides, the shares of Sky and Space Global Limited would be in halt till the start of normal trading on February 6, 2019 or when the company makes an announcement, whichever is earlier. The release which has been on Australian Securities Exchange stated that the announcement which is pending is related to the capital raising.
We would now have a look at the previous important news related to Sky and Space Global Limited. Not so long ago, the company had come forward and issued a release which contains information related to the December 2018 quarter. In the release issued, Sky and Space Global Limited had highlighted multiple MoUs which have been signed by the company. They stated that the company sealed MoUs which the companies which have their presence in United Kingdom, Canada, India, the Caribbean as well as North and South America which includes 2 Brazilian internet as well as communications providers i.e. AltaRede Corporation and Inovsat Telecom, an independent telecommunications solutions provider based in United Kingdom i.e. Applied Satellite Technology, Canadian data acquisition company named SkyX as well as international telecom services provider based in India i.e. Globe Teleservices. The company had also issued information related to the cash flows. In the December 2018 quarter, the company’s net cash used in operating activities amounted to $1.54 million. The company had incurred $1.57 million towards product manufacturing as well as operating costs. However, towards advertising and marketing, leased assets as well as administration and corporate costs Sky and Space Global Limited had incurred $0.128 million, $0.024 million as well as $0.413 million, respectively. In the December 2018 quarter, the company had received government grants and tax incentives amounting to $0.889 million.
We would now see how Sky and Space Global Limited’s stock has performed in the past few months. The last traded price of Sky and Space Global Limited stood at A$0.054 per share. The market capitalisation of Sky and Space Global Limited stood at ~$99.68 million. Coming to the past performance, the stock of Sky and Space Global Limited had delivered the return of -23.94% in the span of previous 6 months while, in the time frame of previous 3 months, the company’s stock posted the return of -12.90%. However, in the time frame of one month, the stock of Sky and Space Global Limited had given the return of 1.89%.
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