X2M Connect Limited (ASX:X2M) Announces Trading Halt
Trading Halt Details
X2M Connect Limited (ASX:X2M) has requested a trading halt pending the release of an announcement regarding a capital raising. The halt will remain in effect until the announcement is made, or until normal trading resumes on Monday, 16 December 2024.
Compliance and Requests
The company has confirmed that there are no known reasons for the trading halt being refused. X2M’s board has approved the request, which complies with ASX Listing Rule 17.1.
CEO’s Statement
Mohan Jesudason, Chief Executive Officer of X2M, expressed confidence in the company’s decision, saying, “We believe this halt is in the best interest of our shareholders as we prepare to inform the market about our upcoming capital raising.”
Company Overview
X2M Connect is focused on developing IoT solutions primarily for the utilities sector. With over 530,000 devices currently connected, the company aims to expand its market presence across the Asia-Pacific region and grow its customer base significantly.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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