Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 

Software of Excellence issue fully subscribed


September 13, 2004

Software of Excellence issue fully subscribed

Software of Excellence International today announced that its one-for-eight issue of Mandatory Convertible Notes at a price of $1.50 each has been fully subscribed and that it has placed a further 1,090,000 notes with the company’s cornerstone shareholder Co-Investor Pty Ltd.

The company’s Chief Executive, Brian Weatherly says the successful fund-raising has raised a total of $9.235 million (before costs) from the recent placements and rights issue. Of this $US2.45m (give NZ$3.75 million) has been used to fund the company’s recent acquisition of United States software company General System Design Inc (GSD).

“The process of integrating GSD into our business has produced no surprises and we are delighted with our progress to date," says Brian Weatherly.

“The consolidation of 16 United States dental schools into our customer base has been well received in the US market.

“The acquisition has lifted our profile and credibility in that market, giving us a much stronger platform from which to progress our US expansion plans.”

“The strengthening of our balance sheet resulting from the fund raising and the presence of a cornerstone shareholder mean we are now better placed to pursue our growth plans and to make further acquisitions that meet our investment criteria.”

At the conclusion of the capital raising, Co-Investor Pty Limited and TMT Ventures Limited, which have entered a Shareholders’ Agreement, collectively hold a 10.96% interest in the company’s capital, including both convertible note issues.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: