No. 1 Story
Construction needs cloud flexibility
Australia’s embattled construction sector could benefit from cloud based information systems that can be switched on and off in lockstep with individual projects – with the exception of those organisations based in remote areas like the Kimberleys.
read moreCommoditel buys 20,000 Vodafone customers
Stuart Corner
Friday, 13 October 2006 14:09
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Commoditel is raising $4.5 million in new capital to fund the acquisition, reduce debt and ramp up marketing activities. The capital raising has been managed by Cygnet Capital Pty Ltd, specialists in small company funding, who also will be appointed corporate advisers to Commoditel.
The balance of the convertible note has been placed with an institutional investor. The $2 million share placement has been priced at 0.7 cents per share. 73,600,000 shares have been placed using the Company's 15 percent capacity, raising $515,200. The balance of 212,400,000 shares which are already committed, are subject to shareholder approval at the forthcoming AGM.
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