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Infocomp’s parent firm suspends shares ahead of £7.3m rights issue

GBST, the parent company of platform technology provider Infocomp, has suspended trading of its shares on the Australian stock exchange ahead of a planned £7.3m rights issue.

Infocomp is the software provider behind both the Novia and Macquarie wraps in the UK and an ASX statement today reveals GBST is looking to raise between £4.9m and £7.3m, or AUS$10m to $15m through a rights issue.

It says this is due to general market conditions, adverse foreign exchange movement and a slower than expected completion of sales.

Unless ASX decides otherwise, the shares will remain suspended until further details of the rights issue emerge on June 26.

An Infocomp spokeswoman says the news will have “no effect” on existing clients.

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