Event non-ATF Mobile

Jayride Group Limited (ASX: JAY) recently announced to have issued fully paid ordinary shares amounting to ~3.97 million at a price of AUD 0.43 per placement share as per the Corporations Act, pursuant to placement to investors.

As per the Corporations Act, the company has provided notice to the ASX in accordance with section 708 (5) (e) about the below points:

  • The company without disclosing to the investors has issued the placement shares as per 6D.2 of the Corporations Act.
  • The company has complied with:
  1. a) The provisions of Chapter 2M of the Corporations Act as they are applicable to the company
  2. b) Corporations Act section 674
  • As on the date of the notice, there is no information regarding:
  1. a) Any disclosure which has been excluded in accordance with the rules of ASX
  2. b) The investors would reasonably require the assets and liabilities, financial position and performance, profits and losses and the prospectus of the company for the informed assessment, and the rights and liabilities related to the ordinary shares of the company.

On January 02, 2019, the company has updated about the changes in the Director’s interest. As per the release, Andrey Shirben who had an Indirect interest in the company had acquired 581,395 fully paid ordinary (FPO) shares at the price of $ 0.43 per share via participation by Follow the Seed PTY Ltd in relation to capital raising program which was conducted by the company.

Let us have a look at the financial performance of the company on a comparable basis. The income of the company stood at $2.45 Mn in FY 2018 as compared to $1.11 Mn in FY 2017, an increase by approximately 1.1 times. The net loss of the company stood at $5.76 million as compared to $2.29 million in FY 2017. The total assets increased significantly to stand at $7.88 million in FY 2018 as compared to $3.58 Mn in FY 2017. The net cash outflow from operations increased and stood at $3.97 million in FY 2018 as compared to $1.45 Mn in FY 2017, however, the net cash outflow from investing activities stood at $1.55 million as compared to $0.03 million in FY 2017.

Now, let us quickly look at the performance of Jayride’s stock and the return it has posted over the last few months. The stock of Jayride last traded at $0.450. The company posted a return of 12.50% over the last three months period.


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