Connexionz closes offer

By NZPA

Monday 16th September 2002

Connexionz, the Christchurch manufacturer of electronic bus-tracking systems, is not extending its $4.5 million public share offer.

The offer closed on Friday as scheduled.

Executive director Tony Kan said in view of the response to the share offer, the directors of the Christchurch electronics engineering company had decided to keep to the closing date.

"The minimum subscription level was achieved in good time after the offer opened on 27 August, and with the level of continuing interest as we enter the last week of the offer, the directors are confident of success," Mr Kan said.

Connexionz has successfully developed a real time passenger information system called Bus Finder.

It uses global positioning satellites and mobile radio to track buses and provide their accurate arrival times on illuminated signs at bus terminals and through self-powered touchscreens at bus stops.

Buyers so far include the Christchurch City Council for the city's 210-bus fleet, Auckland Airbus and the NSW Government for its Liverpool-Parramatta bus transitway near Sydney.

Connexionz was last week named as a finalist in the Energy Efficiency and Conservation Authority's 2002 Energywise awards, for the innovative system.

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