Odin Energy Limited

The directors of Odin Energy Ltd (ASX:ODN) (Odin) are pleased to announce that they have executed a memorandum of understanding to explore the possibility of acquiring 100% of the issued capital of gridComm Pte Ltd, via a special purpose vehicle.

Yesterday the Australian share market is lower after the RBA's rate cut announcement. The S&P/ASX200 index fell 1.3%, or 50.3 points, at 3706.3, while the broader All Ordinaries index was down 1.3%, or 47.9 points, at 3648.9.