CommSoft Group Share Offer Opens
MEDIA RELEASE August 17, 2000
CommSoft Group Share Offer Opens
Auckland, 17 August, 2000 - International leader in communications software, CommSoft Group Limited, today announced the launch of its A$17 million share offer.
CommSoft Group will be offering 15.45 million shares at a public offer price of A$1.10, bringing the company's capitalisation to almost A$68 million. It is listing on both the Australian Stock Exchange (ASX) and the New Zealand Stock Exchange (NZSE). Applications must be for a minimum of 1900 shares and thereafter in multiples of 100 shares.
Interest in the offer and demand from institutional investors has been extremely strong.
Opening the float, launched in Sydney and Auckland,
CommSoft chairman, Mr
Greg Gardiner, said the company had established itself as a global niche player in the expanding new convergence sector that combined telecommunications with information technology.
"Internationally, the convergence sector is one of the fastest-growing areas of opportunity in the telecommunications industry, and CommSoft is already a leader in the markets it operates in," Mr Gardiner said.
"CommSoft has attracted corporate customers and is ahead of rivals in meeting the demand from smaller enterprises seeking competitive scalable communications solutions."
The company has achieved average compound revenue growth of greater than 30% per quarter over the six quarters to 31 March 2000 and forecasts operating revenue for the year to end of June 2001 of $20.9million, with an EBITDA margin of 35.5% in the year ended 31 March 2000.
Since its inception in New Zealand in 1997, CommSoft has provided clients with solutions to manage, monitor and control communications costs (including fixed line, wireless and Internet) and customer relationships.
Developing and maintaining software that bridges the gap between traditional telephony and computer technology, CommSoft's two core lines of business are Communications Management Systems (CMS) and Customer Relationship Management (CRM) systems. Products include CallMaster, CallCentre, CTI Screen Pop and he recently launched NetMaster internet management tool.
CMS products help business managers to understand
and control the increasing
costs associated with the use of telecommunications. CRM software, such as a
call centre solution, helps to attract and maintain customers through improved customer management. In a recent study 80% of Fortune 500 CEOs ranked CRM as the single most important competitive advantage.
CommSoft has signed distribution agreements with British Telecom and Panasonic in the United Kingdom, and Telstra in Australia, and has established operations in Australia, New Zealand, the United Kingdom, and South Africa, selling over 9000 copies of software installed in 20 countries. Customers range from small enterprises to large multinationals such as Stanley Tools, Motorola and Level 3 in the UK.
The offer will comprise approximately 25% of the company. The shares offered will be allocated to clients of the brokers to the offer, CommSoft employees and shareholders of Strathmore Group. If the offer is oversubscribed, share applications may be subject to scaling.
The float opened on August 15. Applications for
shares close on September 1,
and the shares are expected to commence trading on September 13.
The offer of the securities will be made in, or accompanied by, a copy of the Prospectus. Anyone wishing to acquire the securities will need to complete the application form that will be in or will accompany the Prospectus.
An investment statement and prospectus setting out the full details of the offer is available online at www.commsoftgroup.com or from any member of the New Zealand or Australian stock exchanges.
offer is underwritten by UBS Warburg Australia Limited. The
manager is PricewaterhouseCoopers Securities Ltd.
About CommSoft Group Limited
CommSoft Group Limited is an international leader in the development of
niche software products for the telecommunications industry.
CommSoft develops and markets leading edge
telecommunications software to
help small to medium enterprises make better use of their telecommunications
equipment through better cost management, increased staff productivity and
improved customer service. Its products are bundled with products and
services by some of the world's largest telecommunications suppliers.
More information on CommSoft
is available on the web
For further information, please contact:
Rodney Martin, Chief
Operating Officer, CommSoft Group Ltd, Tel: 021 646 297
Allan Botica, Botica Conroy & Associates, Tel: 021 400-500. firstname.lastname@example.org