Payments processing platform Novatti gets admitted to ASX

Novatti Group Limited, a payments processing platform that aims to facilitate mobile and alternative payments, today announces its Admission to the official list of ASX Limited (ASX).

The official quotation of the company’s securities is set to start at 12pm (AEDT) on Monday, January 18, 2016. The quoted securities comprise 63,781,780 fully paid ordinary shares.

The company will use NOV as its ASX Code.

It also announces that it raised A$7 million by the issue of 35 million ordinary shares at A$0.20 per share under its Prospectus dated December 8, 2015.

For the year ended 30 June 2015, the group generated a loss of A$944,173 (2014: loss of A$981,397) and incurred net cash outflows from operations of A$482,581 (2014: outflows of A$866,115). As at 30 June 2015 the group had net assets of A$34,686 (2014: $1,222,962) and positive working capital of A$373,584 (2014: positive working capital of A$760,738).

The directors are, however, confident of the ability of the group to continue as a going concern.


To download the Official Notice on the Admission, click here.

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