- Paygroup (PYG) has locked up its shares in a trading halt as it gets ready to announce a capital raise
- The details of the raise are not yet known, however, the trading halt is expected to last until Thursday, September 3
- The company ended Q1 FY21 with a $1 million operating cash flow surplus, after receiving $4.5 million in receipts over the period
- Paygroup also had $2.1 million in the bank at the end of the first quarter, as well as $260,000 in unused finance available to them
- Shares in PYG last traded for 68 cents each, before today’s trading halt
Paygroup (PYG) has locked up its shares in a trading halt as it gets ready to announce a capital raising venture.
At this stage, it’s not known how much Paygroup plans to raise, how it wants to raise the money, nor what the funds will be spent on.
But, investors won’t have to wait long to find out, with the trading halt expected to lift by Thursday, September 3, or once an announcement is made.
Looking at the company’s finances, Paygroup ended the first quarter of the 2021 financial year with a $1 million operating cash flow surplus.
It also received $4.5 million in receipts over the period, as well as $3 million in new contract wins.
Paygroup ended Q1 FY21 with $2.1 million worth of cash in the bank. It also had access to around $260,000 in unused finance facilities.
Shares in PYG last traded for 68 cents each, on August 31.