Home Listed Tech Crowd Mobile looks for $700,000 in capital raising
Crowd Mobile looks for $700,000 in capital raising Featured

Australian-listed mobile entertainment and digital media company Crowd Mobile has announced plans to undertake a capital raising to pay down debt.

In a move designed to raise up to $700,000, Crowd Mobile (ASX:CM8) has issued an offer to shareholders in Australia and New Zealand to purchase shares limited to $15,000 in value at a discounted issue price of $0.038 per share.

Just yesterday, Crowd Mobile said it was continuing to shift its focus towards the growing social media marketing industry, as it released results projecting first half revenues of $1.25 million for FY19 – and positioning the company in high growth areas in the market for its Media, Subscription and Q&A business divisions.

Yesterday the company said it was currently undertaking an operational transition to focus on its core strength in social media marketing, and that the transition would allow it to leverage synergies across all three of its divisions — Media, Subscription and Q&A — and give it a clear positioning in a high growth area.

“When complete, the company will transition from being product centric to a platform company, focused on social media marketing predominately to millennials leveraging technology," the company said in yesterday's results announcement.

In its Share Purchase Plan (SPP) announced on Thursday, Crowd mobile said it would raise funds to be used to strengthen the company’s balance sheet and pay down some further debt.

In an ASX statement, Crowd Mobile said the directors of the company had each committed to apply for their maximum entitlements under the SPP.

Shares issued under the SPP will rank equally with existing shares of Crowd Mobile.

FREE SEMINAR

Site24x7 Seminars

Deliver Better User Experience in Today's Era of Digital Transformation

Some IT problems are better solved from the cloud

Join us as we discuss how DevOps in combination with AIOps can assure a seamless user experience, and assist you in monitoring all your individual IT components—including your websites, services, network infrastructure, and private or public clouds—from a single, cloud-based dashboard.

Sydney 7th May 2019

Melbourne 09 May 2019

Don’t miss out! Register Today!

REGISTER HERE!

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has the high potential to be exposed to risk.

It only takes one awry email to expose an accounts’ payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 Steps to Improve your Business Cyber Security’ you’ll learn some simple steps you should be taking to prevent devastating and malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you’ll learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

Popular News

 

Telecommunications

 

Guest Opinion

 

Sponsored News

 

 

 

 

Connect