---
title: "Ovanti Limited (ASX: OVT) Activities Report for the Quarter Ended 30 September 2024"
description: Ovanti Limited is pleased to share the Activities Report for the Quarter Ended 30 September 2024.
---

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# [Ovanti Limited (ASX: OVT) Activities Report for the Quarter Ended 30 September 2024](https://www.barclaypearce.com/blog/ovanti-limited-asx-ovt-activities-report-for-the-quarter-ended-30-september-2024)

 Written by [Barclay Pearce Capital](https://www.barclaypearce.com/blog/author/barclay-pearce-capital) | Oct 30, 2024 11:28:30 PM

[Ovanti Limited (ASX: OVT) ](https://www.linkedin.com/company/ovanti/)is pleased to share the activities report for the quarter ended 30 September 2024.

 

### Announcement Highlights

1. Operations Update:

- The Company notes the strong performance of the IDSB business during the quarter, which the Company maintains a 21% shareholding in. During the quarter, the monthly dividend the Company receives from IDSB increased by 57% to RM 369,000 per month (which converts to approximately AUD $128,000 per month paid to the Company).
- Subsequent to the end of the quarter, on 17 October 2024 the Company announced the hire of a new Chief Executive Officer Mr <https://www.linkedin.com/in/ACoAAAEWxBMB1eUQSz8w3w2TWMnxagngyrIHyYc>[Simon Keast](https://www.linkedin.com/in/keastsimon/) who was the former US CFO of [Zip Co](https://www.linkedin.com/company/zip-co-limited/) Limited (ASX:ZIP), Senior Director of Zip Co Limited and Managing Director of Zip Business Capital. Prior to those roles, he was Division Director and Head of Small Business Designs & Solutions at Macquarie Bank Limited (ASX:MQG).

2. Corporate Update:

- On 25 July 2024, the Company announced to the market firm commitments to raise $1,200,000 at $0.004 per share for working capital and further provision for costs associated with ongoing litigation and investigations. On 29 July 2024, the Company also announced a 1 for 3 rights issue, to raise up to an additional $2,030,000 at 0.004 per share. On 19 September 2024, the Company announced that 33,742,859 shares had been placed pursuant to the offer.

Read the full Ovanti Limited Company Update [here](https://www.barclaypearce.com/hubfs/Ovanti%20OVT%20Activities%20Report%20BPC.pdf).

*To learn more about Ovanti Limited and stay up to date with investor information, subscribe to the Company's Chairman’s List.*  

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