“ME1: Trading Halt – Melodiol Global Health Limited on the ASX

Melodiol Global Health Limited (ME1), an Australian-based company in the medical and biotechnology industry, recently announced a trading halt on the Australian Securities Exchange (ASX). ME1 is a technology-driven healthcare company that develops products in the fields of biotechnology, medical devices, and pharmaceuticals. It focuses on developing innovative healthcare solutions and addressing unmet needs in today’s world. The announcement from the company states that the reason for the trading halt was due to the company’s proposal for a share placement. The company has proposed to issue up to 10 million ordinary shares at an issue price of $0.94 per share to institutional or sophisticated investors, on a SPP and subject to shareholder approval. As part of its capital raising activities, ME1 also intends to cancel some of its existing convertible notes. Those convertible notes were issued in connection with a share placement that closed in May 2020. The company advises that it will provide further updates pertaining to the nature and timing of the proposed share placement and any other capital raising activities it may undertake in due course. ME1’s trading halt on the ASX was requested in order to allow time for the company to prepare the necessary documentation for the capital raising activities and its application to the ASX for the waiver of certain ASX Listing Rule requirements, as well as for the SPP to be implemented. The trading halt will remain in place until the earlier of either the release of an announcement to the market in relation to the outcomes of the proposed capital raising activities or the commencement of normal trading on Friday October 30th, 2020. Ultimately, the proposed capital raising activities by Melodiol Global Health Limited, will provide the company with much needed capital to support its growth and development of innovative healthcare solutions. Melodiol Global Health Limited (ME1), an Australian-based company in the medical and biotechnology industry, recently announced a trading halt on the Australian Securities Exchange (ASX). ME1 is a technology-driven healthcare company that develops products in the fields of biotechnology, medical devices, and pharmaceuticals. It focuses on developing innovative healthcare solutions and addressing unmet needs in today’s world. The announcement from the company states that the reason for the trading halt was due to the company’s proposal for a share placement. The company has proposed to issue up to 10 million ordinary shares at an issue price of $0.94 per share to institutional or sophisticated investors, on a SPP and subject to shareholder approval. As part of its capital raising activities, ME1 also intends to cancel some of its existing convertible notes. Those convertible notes were issued in connection with a share placement that closed in May 2020. The company advises that it will provide further updates pertaining to the nature and timing of the proposed share placement and any other capital raising activities it may undertake in due course. ME1’s trading halt on the ASX was requested in order to allow time for the company to prepare the necessary documentation for the capital raising activities and its application to the ASX for the waiver of certain ASX Listing Rule requirements, as well as for the SPP to be implemented. The trading halt will remain in place until the earlier of either the release of an announcement to the market in relation to the outcomes of the proposed capital raising activities or the commencement of normal trading on Friday October 30th, 2020. Ultimately, the proposed capital raising activities by Melodiol Global Health Limited, will provide the company with much needed capital to support its growth and development of innovative healthcare solutions.