Vault Intelligence Ltd (ASX:VLT) has been granted a trading halt by the ASX pending news of a capital raising.
The halt will remain in place until the start of normal trading on Monday, September 3, 2018, or when the announcement is released to the market.
READ: Vault Intelligence achieves record revenue with cloud-based management systems
Shares were 3.1 cents at the close of trade on Wednesday.
Vault is an SaaS business specialising in creating solutions in the risk, environment, health and safety (EHS) sector.
Record results
The company has delivered record results for the financial year ending June 30 in the two areas of performance criteria used to monitor business performance - cash receipts and Contracted Annualised Recurring Revenue (CARR).
Cash receipts for the final quarter of 2018 financial year saw the business break through the $1 million barrier of cash received from customers for the first time, primarily from sales of Vault 3 (V3).
Vault also delivered on its $4 million CARR market forecast made 12 months prior in spite of delays in the upgrade of the enterprise platform to the new flagship V3.
The company delivers its enterprise-level software and mobile solutions to more than 1 million people across more than 30 industries in several parts of the world.
Vault’s leading cloud-based systems provide clients with the benefits of cost savings driven by productivity through the availability of real-time information to monitor, maintain and improve their businesses.