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CommSoft Group Announces Share Placement

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CommSoft Group Announces Share Placement

CommSoft Group Limited (ASX/NZSE: CSG) is pleased to announce that it has placed 42 million of the shortfall shares available from its recent rights issue, raising an additional A$420,000 for working capital.

As previously disclosed, the partially underwritten Rights Issue was very well supported by ordinary shareholders, raising some A$1.445m before expenses. Under the terms of the Prospectus the Directors were able to issue shortfall shares (those new shares not taken up by holders of the Convertible Notes issued last year) on the same terms offered to Ordinary Shareholders.

Commenting on the placement, Mark Lunt CommSoft's Managing Director said "We are delighted that a number of professional investors have approached us over the past month seeking to make an investment in CommSoft Group. We share their confidence in the Group's prospects. We are nearing the end of the first stage of our programme to rebuild the group and we are moving into the next phase in which we intend to deliver improved results, growth and increased value to our shareholders."

ENDS

About CommSoft Group Limited
CommSoft Group Limited (ASX/NZSE: CSG) is an international leader in the development of niche software products for the telecommunications industry. CommSoft develops and markets leading edge telecommunications and Customer Relationship Management software to help all kinds of 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 is available at www.commsoftgroup.com.


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