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Swift Media in trading halt ahead of capital raising news

Last updated: 17:12 15 Oct 2019 AEDT, First published: 16:59 15 Oct 2019 AEDT

Swift Media Ltd - Swift Media in trading halt ahead of capital raising news
Swift is a telecommunication and content provider servicing a cross-section of industries

Swift Media Ltd (ASX:SW1) has been granted a trading halt by the ASX with a capital raising announcement pending.

The trading halt will remain in place until Thursday, October 17, or when an announcement is released to the market, whichever occurs earliest.

SW1's securities last traded at 15.5 cents and the company has a market cap of about $28 million.

FY2019 achievements

The company recently highlighted a ‘year of development and change’ in its annual report for the 12 months ending June 30.

Achievements included acquiring Medical Media in February, appointing a new chair and chief executive officer and taking steps to simplify the business.

Non-executive chairman Darren Smorgon said Swift was now well positioned to benefit from the substantial size and attractive fundamentals of three target verticals – resources, aged care and health and wellness.

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