Cipherpoint Ltd (ASX:CPT) has been granted back-to-back trading halts by the ASX ahead of a proposed capital raising announcement.
The consecutive trading halts will remain in place until the start of regular trading on Friday, August 21, 2020, or when an announcement is released to the market, whichever occurs first.
Shares last traded at 6.7 cents and are up from 3.3 cents at the close on July 20.
Continued growth in June quarter
In the company’s June quarter update, Cipherpoint highlighted continued growth in partner sales in Asia, with the company gaining a new customer in Singapore-based Tote Board.
Tote Board is a government agency in Singapore that channels gaming revenues toward supporting worthy community causes.
Tote Board joins Singapore Power as recent customer wins for the company in this region this year.
The business continues to function seamlessly with most staff in Germany, the US and Sydney working remotely.
Customer prospecting and support activities by way of teleconferencing or web meeting have quickly gained acceptance by the broader market, meaning Cipherpoint’s staff can continue to work flexibly and safely.