Cipherpoint Ltd (ASX:CPT) has been granted a trading halt by the ASX ahead of an announcement regarding a proposed capital raising.
The halt will remain in place until the start of regular trading on Monday, August 2, or until an announcement is released to the market, whichever occurs earliest.
New chief financial officer
Last week, the company appointed Tim Carolan to the role of the chief financial officer, replacing David Grinham who has resigned as CFO and company secretary to take up a private office position.
Carolan is a chartered accountant and joins the company with extensive domestic and international experience in the telecommunications, information technology and service sectors as well as a background at large telecommunications operators including Telstra, Optus and Vodafone and more recently with Switch Media and Asurion.
June revenue highlight
Cipherpoint achieved revenues of $378,000 during June with its Brace168 cybersecurity platform booking $336,000 – the second-highest month ever recorded.
The company acquired Brace168 back in April due to its strong organic growth trajectory and ability to compete aggressively in the market.