AppLabs: Applabs Technologies to update on option to acquire stake in cloud company

Applabs Technologies (ASX: ALA) has been granted a trading halt by the ASX today, with its shares placed in pre-open.The halt was requested pending details on the option to acquire a 25% stake in cloud-based online staff rostering company Roster Elf Pty Ltd.Roster Elf has developed an online staff rostering system which provides commercial opportunities across a range of businesses globally.The halt will remain in place until the opening of trade on Friday 28th February 2014, or earlier if an announcement is made to the market. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.