May 20 (Reuters) - SmartPay Holdings Ltd SPY.NZ :
* REFERS TO ARTICLE REGARDING CAPITAL RAISING CO IS CURRENTLY UNDERTAKING
* TARGETING TO RAISE ON OR ABOUT AU$10M AT A PRICE OF ON OR AROUND AU$0.42 PER SHARE
* CONFIRMS TRADING HALT IS IN RESPECT OF CAPITAL RAISE CURRENTLY BEING UNDERTAKEN
* EXPECTS RAISE WILL BE COMPLETED BY 22 MAY