Synergy completes an August hat-trick of issuers
30 August 2006
Synergy International completes an August hat-trick of new issuers for Unlisted
Unlisted Manager Bruce Cossill today announced that Synergy International Limited will become the 24th issuer to have securities quoted on Unlisted.
Mr Cossill said “Unlisted is delighted to welcome Synergy International Limited to the Unlisted securities trading facility. Synergy International Limited ordinary shares will be quoted and traded on Unlisted from Wednesday 30 August 2006 using the stock code FSG.
“Having Synergy International join the facility completes a very satisfying month for Unlisted, auspiciously one year since the conclusion of the Minister’s regulatory review.
Synergy joins our two other August 2006 arrivals – Infinity Group Limited and Mystery Creek Wines Limited.
“The shareholders and directors of these three companies, whose shares in the recent past have been traded over-the-counter, will now be able to experience the benefits a transparent trading environment can provide, including improved liquidity and price discovery. As well as quoting three new issuers this month Unlisted has just released to its shareholders a year-end annual report showing a modest profit, a pleasing turnaround from the loss recorded in the year to June 2005 brought about by the regulatory review."
Synergy International Limited is a specialist IT consultancy and service provider that designs, builds and operates industrial-strength business transaction and payment systems and services, including mobile commerce under the Fronde brand.
Headquartered in Wellington, with offices in Auckland, London and Singapore, Synergy has 195 shareholders, more than 200 staff and annual turnover of more than $33 million in the year to June 2006.
Synergy International’s Chairman Philip Shewell said “Synergy has for some time been looking to provide its shareholders with a mechanism to deliver better share liquidity and price discovery, and of the options we looked at Unlisted suits us best. Unlisted provides a cost-effective trading solution that I’m sure will be appreciated by our shareholders." Since its launch in December 2003 Unlisted has transacted over 3,370 trades of 38 million shares worth $39.8 million. Consistent trading volumes and values illustrate Unlisted’s ongoing contribution to the New Zealand capital markets, showing Unlisted continues to provide enhanced communication, price transparency, liquidity and choice.
Mr Cossill said “We will continue to market the facility to corporate advisors, brokers and company directors as a real option to be considered when companies think about the securities trading environment they want to provide their shareholders. Discussions are continuing with other potential issuers who are currently considering their trading arrangements, and we remain optimistic we will see further issuer growth during the year."
 Unlisted is the trading name of Efficient Market Services Limited
NOTE: Unlisted is a trading facility that is not a registered stock exchange under the Securities Markets Act.
All Unlisted Issuers are bound by the standard Unlisted terms and conditions, and their company constitutions.
Also, all companies trading through Unlisted are subject to existing legislation, such as the Companies Act 1993, Fair Trading Act 1986, Securities Act 1978 and the Commerce Act 1986, as well as Common Law.
For background information, please contact: Bruce Cossill on 04 498 0023 or 021 593 297. For more information about Synergy International please contact Chairman Philip Shewell on +64 27 289 7300 or CEO Jim Donovan on +64 21 609 633, or visit the company’s website at www.synergy.co.nz