Join our daily newsletter At The Bell to receive exclusive market insights
- The Environmental Group (EGL) enters a trading halt ahead of an upcoming capital raise
- It is not known how much the company is aiming to raise or where the funds will be spent
- The halt means company shares will be paused until Thursday, December 9, or when further information about the raise is released
- EGL has four businesses that are all committed to protecting the environment
- On the market, EGL last traded at 17.5 cents per share
The Environmental Group (EGL) has entered into a trading halt as it plans an upcoming capital raise.
Currently, there is no information on how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until further information is released to the market or Thursday, December 9, whichever one comes first.
EGL has four businesses that are all committed to protecting the environment by improving air quality, reducing carbon emissions, enhancing waste to energy production and lifting water quality.
Recently, the company undertook a commercial trial with Reclaim Waste at its licensed facility, following successful PFAS separating and concentration trials with Victoria University.
PFAS is a group of man-made chemicals found in stain-repellent fabrics, polishes, waxes, paints and cleaning products, which don’t break down and can accumulate over time. Studies have suggested exposure to PFAS can lead to adverse human health effects.
EGL said its separation and concentration technology is a viable solution for treating PFAS-contaminated groundwater, surface water and wastewater in the current trial.
On the market, EGL last traded at 17.5 cents per share.
