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Ardent Resources to seek shareholder approval for OK IOT Group acquisition

Ardent Resources to seek shareholder approval for OK IOT Group acquisition

Sydney based Ardent Resources (ASX:AWO) which has embarked on a change of direction and a placement to raise $5 million toward the acquisition of OK IOT Group Pty Ltd has requested a trading halt for its shares.

The move represents Ardent’s transition into the growing industry of internet-connect products known as the “internet of things” including wearable, internet connected devices.

IOT’s focus encompasses internet-connected devices such as watches, homes, TVs, cars and clothing.

The company had received a strong response to the raising with commitments from high net worth and institutional investors for $5 million.

Ardent shareholders are expected to approve a change in the nature and scale of Ardent’s activities and acquisition of OK IOT Group Pty Ltd.

The trading halt is requested until Tuesday 19 January 2016.


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IOT Group Ltd Timeline

July 04 2016
July 23 2015

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