Forum Archive Index - September 2000

["Les" <openmind@paradise.net.nz>]

----- Original Message -----
From: NetBroker <netbroker@directbroking.co.nz>
To: <openmind@paradise.net.nz>
Sent: Friday, September 22, 2000 1:02 PM
Subject: PLACE: ITC: SHARE PLACEMENT TO AUSTRALIAN TECHNOLOGY FUND


>
> ITC
> 22/09/2000
> PLACE
>
> REL: 1241 HRS IT Capital Limited
>
> PLACE: ITC: SHARE PLACEMENT TO AUSTRALIAN TECHNOLOGY FUND
>
> IT Capital has announced it has placed 10 million shares with a leading
> listed Australian technology fund. _
> The share placement, carried out at the current market price raising
proceeds
> of $A2.2 million (NZ$2.93million), comes hard on the heels of IT Capital's
> successful sale of exo-net International to Solution 6 Holdings Ltd (ASX,
> SOH) - a transaction ensuring IT Capital's profitability in the current
> fiscal year._
> "With approximately $A180 million of funds under management in the
technology
> sector, our new partner is well positioned to recognise the value of IT
> Capital's investment portfolio," said IT Capital Chief Executive Officer,
> Jeff Dittus._
> "They also have the capacity to increase their investment in ITC as we
> continue to grow," Mr Dittus said._
> This Australian institutional commitment follows IT Capital establishing
> headquarters in Sydney, and increasing its focus on venture capital
investing
> in the Australian market. _
> "We have just completed an institutional road show to fund managers in the
> Asia Pacific region with the goal of increasing our investor and
co-investor
> network, as well as our Australian shareholder base," said Mr Dittus._
> IT Capital recently reached a share swap agreement with Plan-B
Technologies
> Pte Ltd, a leading Singapore early stage venture capital company that has
a
> portfolio of technology investments and a network into Asia. _
> With these two transactions, ITC's institutional ownership has grown to
> approximately 45%.   _
> End CA:00059861 For:ITC    Type:PLACE      Time:2000-09-22:12:42:06
Encrypt:Y
>
> http://netbroker.sharechat.co.nz
>
>


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