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IOT Group Ltd

IOT Group Ltd (ASX:IOT) formerly Ardent Resources is listed on the ASX.


Ardent Resources to seek shareholder approval for OK IOT Group acquisition

Friday, January 15, 2016

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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