News and Announcements
Connexion Media Closes Rights Issue Oversubscribed
- Published March 02, 2015 11:06AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
ASX Announcement, 2 March 2015:
Connexion Media Limited (ASX:CXZ), an innovator in the connected car market, has closed its non-renounceable pro-rata issue of options to shareholders oversubscribed.
The offer of two new listed options for every three shares held in the company was conducted at an issue price of $0.015 per new option and raised the maximum funds allowed of $821,198.
The new options will trade from 6 March 2015 and be exercisable at 20 cents any time prior to 5pm on 28 February 2017.
Due to the oversubscription of the offer distribution of the options will be scaled back accordingly.
“We are very pleased with the level of support the rights issue has received,” said Connexion Media CEO and managing director George Parthimos.
“This demonstrates confidence from our shareholders after a period of rapid news flow that will continue as we approach the launch of the Flex vehicle management service in the coming weeks.”
The rights issue was full underwritten by PAC Partners Pty Ltd and was available to eligible shareholders from Australia or New Zealand as at 5pm EDST Friday 6 February 2015.
CONTACT
George Parthimos
CEO & Managing Director Monsoon Communications
Connexion Media Limited rudim@monsoon.com.au
george@miroamer.com
About Connexion Media
Connexion Media Ltd (ASX:CXZ) is a technology company specialising in developing and commercialising software apps and services for the web connected car, mobile device and connected consumer electronics markets. It is based in Melbourne Australia, with a sales office in Cambridge UK.
About miRoamer
miRoamer is a category-leading digital media platform for vastly improved internet radio and music entertainment. It can be installed in a variety of consumer electronics including car radios, smart phones, gaming consoles, televisions and stereo systems. Users get media content from a common platform using as many electronic devices as they wish. miRoamer enables access to favourite content providers and stations as well as customising the access. miRoamer is licensed by some of the world’s big and prestigious automotive and consumer electronics companies.
www.miroamer.com
About Flex
Flex is a cloud based, integrated vehicle management system that gives you control over your entire fleet of cars, trucks and other vehicles from a central point. It simultaneously tracks – in real time – all key performance indicators of your vehicles such as geo-location, fuel, distance, engine, and speed. It also helps improve productivity, driver behavior, and increase awareness of vehicle or fleet performance.
www.flexvs.com
Company Updates
Ecosystems Over Exit: Callum Laing on Disrupting Small Business M&A
At Emergence Singapore, Callum Laing of Veblen Director Program presented a bold new vision for small business M&A: “Ecosystems Over Exit.” He shared how his Unity Group takes cash-generating businesses public, focusing on growth over immediate founder exit. Discover his unique approach, how interconnected ecosystems drive massive deal flow, and a three-step framework for any business to amplify reach and capital raising.
Report on the Impact of the Proposed Unrealised Capital Gains Tax on Investment in Key Sectors
A recent survey of investors and company leaders reveals significant concerns about the proposed Unrealised Capital Gains Tax (UCGT) in Australia. Over 84% indicate it would negatively impact investment in vital renewable energy, sustainability, and life science sectors, with 82% believing it would discourage long-term holdings. The report highlights the critical role of SMSF investors in early-stage funding and urges policymakers to reconsider the tax’s potential to stifle innovation and economic growth.
Ray Dalio: “Worse Than a Recession” if Global Imbalances Aren’t Addressed
Ray Dalio, the influential founder of the world’s largest hedge fund, Bridgewater Associates, has issued a grave warning about the global economic and geopolitical landscape, cautioning that without decisive action, the world could face a crisis “worse than a normal recession.” Speaking on “Meet the Press” ahead of the June release of his new book, […]
Backed By Leading Investment Groups and Family Offices
