Dull listing for Cadmus

Cadmus Technology is an offshoot of Heritage Gold, and before listing said it was making a placement of shares to 'professional' investors at 20 cents per share. Trading in the stock this morning ranged from 16-22 cents.

The company has acquired Insight Data Limited via an allotment of 68 million ordinary shares at an aggregate issue price of $16.6 million, and allotted 15 million ordinary shares at $0.20 per share as a private placement.

Following the allotment Cadmus has 133 million shares on issue, with Heritage Gold retaining a 15% cornerstone shareholding in the company.

In its listing profile the company said it would use around half of the cash raised from its share placement on marketing the company's services, and as working capital.

Cadmus offers a range of data management services including database marketing, loyalty programmes, web development, e-commerce solutions and Eftpos terminals.

With Insight Data under its belt it also has exposure to a number of joint ventures including one with TrustPower to produce and install a full function eftpos and credit card home payment system.

The joint venture company and Insight Data Limited hold patents for the technology.

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