Australian (ASX) Stock Market Forum

NOV - Novatti Group

Jump to new
and ... something is afoot?

from $0.05 at start of month, having little reaction to late August yearly results ... rising to $0.09 with a 45 per cent jump today. No news. Speeding ticket? Takeover?
 
and down 25 per cent to $0.043 ... could drop to a flat 4, as low as it's got.

for a $20 million MC, it's make or break time?
.
Proposed capital raising of up to $9.4 million, comprised of:
o a placement to sophisticated and professional investors, to raise $4 million (@ 4.0c)
o a non-renounceable pro rata entitlement offer on a 1-for-3 basis, to raise up to $5.4 million
● Supported by major shareholder, Brayter Limited, and the Board, aggregate bindingcommitments of $7 million have been received, comprising $4 million under the Placement and $3 million in partial underwriting of the Entitlement Offer by GBA Capital
● Proceeds from the capital raising will to go towards unlocking internal growth, including a 70% gross margin target in FY27, by increasing operational and financial performance
● Follows implementation of turnaround strategy and business simplification since start of FY24
● Continued progress has been made towards achieving targets of monthly positive operating cashflow by January 2025 and positive operating cashflow for half-year ending June 2025.

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