The Company is pleased to advise that it has entered into a binding agreement with Fidelity International pursuant to which the Company will issue 34,741,613 fully paid ordinary Covata shares (Placement Shares) to Fidelity International at a price of A$0.20 per share, to raise A$6,948,322 of additional capital for the Company.
Fidelity International is a global asset manager with assets under management of US$258bn* for clients across Asia-Pacific, Europe, the Middle East and South America.
Covata Founder and CEO Trent Telford said of the strategic placement, “We are thrilled to welcome Fidelity International as an investor in the Company. We have had a strong first year as a public company, setting clear goals and delivering consistent results. With partnerships with key brand names in place, a strong pipeline across our two business arms and a new office in San Francisco the Company is geared up to keep executing and delivering for our Shareholders. We are thankful to our existing shareholders for their strong support in the Company and we appreciate the support of Fidelity as we enter a new stage of growth.”
The capital raising was led jointly by Asia Principal Capital - Corporate Finance and Foster Stockbroking.
The placement was made under the Company’s existing 15% placement capacity and funds raised will be used for working capital.
*as of 30 September 2015
Covata enables true ownership and control over your data in the cloud and over mobile services. We deliver data-centric security solutions without compromising simple usability, providing true end-to-end security. Your data is always protected wherever it may travel – inside your network, beyond the domain, to mobile devices and to the cloud – with granular access controls that extend to external users, view-only restrictions, real-time revocation and complete visibility and auditability.
Own Your Data, control your data and choose where it is stored – with complete assurance that it is protected and secure. For further information please visit Covata.com.