- Locality Planning Energy (LPE) shares have entered a trading halt as the company gears up for a proposed equity raise
- Further information regarding a placement is expected to be released to the market on or before Wednesday, August 18
- LPE affirmed its position as Queensland’s sixth-largest energy provider in its most recent quarterly, onboarding 10,000 new customers during FY21
- The company reported a cash and equivalents balance of $5.7 million at the end of the June quarter
- Prior to today’s trading halt, Locality Planning Energy shares last changed hands at 25 cents apiece
Locality Planning Energy (LPE) shares have entered a trading halt as the company gears up for a proposed equity raise.
Company shares are expected to remain in a voluntary halt until Wednesday August 18, 2021, until further details regarding the raise are made to the market.
The electricity supplier has not given any clear indication as to how much it is looking to raise or for what purpose, but has advised it will be raising the funds via a placement.
LPE’s quarterly cash flow report for the June quarter revealed the company had about $5.7 million in cash and equivalents, equating to just under seven quarter’s worth of funding based on spending levels at the time.
The company said it brought on 10,000 new customers during the 2021 financial year and started the new fiscal year by bringing onboard 600 customers for July.
In its June quarterly, LPE also affirmed its position as Queensland’s sixth largest energy provider and said it would look to continue expanding its position in residential networks and shared solar.
Prior to today’s trading halt, Locality Planning Energy shares last changed hands at 25 cents.