- Cipherpoint (CPT) enters a trading halt while it plans an upcoming capital raise
- Currently, there are no details on how much the company is raising or where the funds will be spent
- CPT shares will be paused until Monday, August 2, or when more information about the raise is released to the market
- On the market, Cipherpoint last traded at 3.5 cents per share
Cipherpoint (CPT) has entered a trading halt while it finalises details on an upcoming capital raise.
It is unknown how much the company is aiming to raise or why. Under the halt, trading in CPT shares will be paused until Monday, August 2, or when more information about the raise is released to the market.
Cipherpoint is a data protection solutions company whose technology helps businesses and governments identify, protect and control access to sensitive information.
Last week the company appointed Tom Carolan as its new Chief Financial Officer.
He is replacing David Grinham, who resigned as CFO and company secretary to take up a private office position.
Mr Carolan is a chartered accountant with extensive domestic and international experience in the telecommunications, information technology and service sectors.
Previously he worked for large telecommunications operations such as Telstra, Optus and Vodafone and more recently with Switch Media and Asurion.
On the market, Cipherpoint last traded at 3.5 cents per share.