Sydney September 19, 2000. CommSoft officially listed on the Australian Stock Exchange (ASX) today under the symbol CSG. 15.4 million shares at $A1.10 each were allocated and upon listing CommSoft’s market capitalisation will be $A68 million.
Since its inception in New Zealand in 1997, CommSoft has been providing large companies and SMEs with solutions to help manage, monitor and control telecommunications costs. It has operations in Australia, the United Kingdom, South Africa, Singapore and New Zealand.
The company has achieved average compound revenue growth of greater than 30% per quarter over the six quarters to 31 March 2000. Forecasted operating revenue for the year to end of June 2001 is $A20.9 million, with an EBITDA margin of 35.5% in the year ended 31 March 2000.
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 was underwritten by Warburg Dillon Read.
For further information please contact:
Rodney Martin, Chief Operating Officer, CommSoft Group, Phone 021 646 297
Robert Mannion, Botica Conroy & Associates, Phone 64 9 303 3862, 021 403 505