Property investment manager Chapmans Limited (ASX:CHP) has announced that it intends to invest $300,000 in a privately-held online multimedia distribution platform developer.
The company said it had entered into a conditional agreement regarding the investment, and will proceed provided due diligence proves satisfactory.
The announcement appears to have had a calming effect on CHP shares, which have been fluctuating in value lately. Since January 14, the shares have experienced both daily gains of up to 33.3%, and declines of up to 25%. But CHP is today trading unchanged at $0.017.