Terragen Holdings announces trading halt

Terragen Holdings (ASX:TGH), an Australian company specializing in research, development, and commercialization, has announced a trading halt on its securities effective from 5 December 2024. This halt is linked to an impending announcement regarding the institutional aspect of an accelerated entitlement offer as part of their capital-raising strategy. Trading is expected to resume on 9 December 2024, subject to ASX approval.

Details and implications of the trading halt

Terragen Holdings has requested a trading halt to facilitate the orderly announcement of the results from the institutional component of their capital raising initiative. The capital raise includes both an institutional placement and an accelerated non-renounceable entitlement offer. This strategic move is intended to strengthen the company's financial position, aligning with their corporate ambitions of advancing their research, development, and commercialization efforts. The halt is in compliance with ASX Listing Rule 17.1 and will remain until normal trading resumes on 9 December 2024. The company, through its secretary Matthew Whyte, has ensured transparency and adherence to regulatory norms, aiming to keep stakeholders well-informed.

Executive commentary on trading halt

The Company is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.