Otis Energy (ASX:OTE) has some interesting news on the horizon in the form of a material acquisition transaction.
The company recently outlined that it remained open to a change of strategy or direction.
Otis had close to $2 million in cash at the end of June 2014.
The ASX has granted the company a trading halt to organise an announcement, with its shares placed in pre-open.
The halt will remain in place until the opening of trade on Thursday 4th September 2014, or earlier if an announcement is made to the market.
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