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RPM Automotive Group in back-to-back trading halt ahead of capital raising news

The company believes its recent acquisition of Traralgon Tyre Service will fit neatly into its Repairs and Roadside Division, providing operational synergies and offering more services to existing and new clientele.

RPM Automotive Group Ltd - RPM Automotive Group in back-to-back trading halt ahead of capital raising
The halt will remain until Wednesday, November 18, or when an announcement is released.

RPM Automotive Group Ltd (ASX:RPM) has a capital raising announcement pending and has been granted a back-to-back trading halt by the ASX.

The halt will remain in place until the beginning of regular trading on Wednesday, November 18, or when an announcement is released to the market.

Shares last traded at 23 cents and since closing at 12 cents on June 24, shares have been on an upward trend supported by strong newsflow, including acquisitions and encouraging trading reports.

Footprint expands with acquisition of TTS

RPM recently entered into an agreement to acquire all the assets of Traralgon Tyre Service (TTS).

TTS is a market leader in the supply, fitting and servicing of passenger (PCR), commercial (TBR) and industrial (OTR) tyres in the Gippsland region of Victoria.

With 25 years’ experience in the tyre industry and a reputation for quality service and supply, TTS has built a diverse and unique business model servicing the trucking industry, forestry, agriculture and farming, retail passenger market as well as major mining operations in the region.

Quick facts: RPM Automotive Group Ltd

Price: 0.2 AUD

ASX:RPM
Market: ASX
Market Cap: $20.05 m
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