Fatfish Group's response to ASX query

Fatfish Group (ASX:$FFG) has responded to ASX's query regarding the recent increase in price and volume of the company's securities. The company confirmed that it is not aware of any undisclosed information that could explain the recent trading in its securities. Additionally, Fatfish Group highlighted the successful completion of a $3.25 million capital raising via a placement, which was strongly oversubscribed. The company also emphasized its intention to utilize the raised capital for new ventures. Furthermore, Fatfish Group acknowledged the continued support from its new shareholder, Palmgold Group, who subscribed to the placement and acquired a substantial amount of shares from the market. The company also affirmed its compliance with Listing Rule 3.1 and the authorization of its responses in accordance with its published continuous disclosure policy and the Board.

Executive Commentary on Recent Developments

We are pleased to have promptly addressed ASX's query regarding the recent trading activity of Fatfish Group's securities. The successful completion of the capital raising further strengthens our financial position and provides us with the necessary resources to pursue new opportunities. We are grateful for the overwhelming support from our new shareholder, Palmgold Group, and remain committed to delivering value to our investors. Our compliance with the Listing Rules underscores our dedication to transparency and adherence to regulatory requirements. We look forward to leveraging the raised capital to drive growth and innovation within the company.

Summary of Fatfish Group's Response and Outlook

Fatfish Group's response to ASX's query regarding the increase in price and volume of its securities reaffirms the company's commitment to transparency and compliance with regulatory obligations. The successful completion of the capital raising, coupled with the strong oversubscription, reflects investor confidence in the company's prospects. The intended utilization of the raised capital for new ventures aligns with Fatfish Group's strategic growth initiatives. The continued support from Palmgold Group further bolsters the company's position and signifies a positive outlook for future endeavors. Fatfish Group's proactive approach in addressing ASX's query and its commitment to compliance underpin its corporate strategy aimed at driving sustainable growth and creating value for stakeholders.