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Originally posted by wn
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5th July 2017 Dear Shareholder I am very excited to announce that Vonex Limited (“Vonex” or the “Company”) is listing in its own right on the National Stock Exchange of Australia (“NSX”). Simultaneously with the listing the Company is seeking to raise up to $8 million in fresh capital. Before the Prospectus in the upcoming NSX listing can be finalised and lodged with ASIC a number of preliminary matters that affect the capital structure of the Company need to be formalised. This requires the shareholders of the Company to pass a number of resolutions, the first of which is to consolidate the issued capital of the Company on the basis that 5 ordinary shares be consolidated into 1 ordinary share. Another resolution necessary to be passed is for the issue of post consolidation shares to raise up to $8 million at a price no less than $0.10 per share. As a result of the resolutions that need to be passed ahead of the NSX listing, the Company has convened a shareholders meeting to take place on 28 July 2017. Simultaneously with the resolutions referred to above, the Company has taken the opportunity to seek shareholder approval for a number of related resolutions including the variation of the Class B and Class C Performance Shares such that they will vest upon the Company listing on the NSX. Enclosed with this letter is a Notice of Meeting and Explanatory Memorandum (“NOM”) which contains the details of the resolutions being sought at the proposed shareholders meeting and provides information to shareholders to assess the merits of the resolutions. I urge shareholders to read the NOM carefully so that a fully informed decision can be made regarding the resolutions. The Prospectus for the upcoming NSX listing is nearly completed and will be lodged with ASIC as soon as the resolutions have all been passed at the shareholders meeting on 28 July 2017. The Prospectus has been prepared on the basis that the resolutions in the NOM will all be passed. Having endured a few set-backs over the past 18 months the Company is in good shape and is now primed and ready to list in its own right and raise the necessary capital to put the Company’s fast growing telco services business on an even faster growth trajectory and fund the development to beta stage of our Oper8tor App to unlock its upside potential. 2 ABN: 39 063 074 635 Ground Floor Unit 5, 1 Centro Avenue, Subiaco WA 6008 PO Box 510, Subiaco WA 6904 Ph: +61 8 6388 8888 // Fax: +61 8 6388 8898 // Web:
www.vonex.com // Email:
[email protected] The rollout of the NBN in Australia is well under way and Vonex is well placed and in a strong strategic position to capitalise on servicing SME (Small to Medium Enterprise) customers as a primary target market. This market is harder for the large carriers to personally service due to lack of economies of scale, however with our footprint of 500 channel partners Vonex is able to provide very personalised service to meet the individual needs of these customers. Traditionally these customers are very stable and have a less than 1% churn rate. With 1 million of them being forced to move in the next 36 months to new services on the NBN this presents a great 'land grab' opportunity for Vonex and will enable us to substantially increase the scale of the Company and turn our attention to other key opportunities in the consumer and enterprise markets. In addition our mid term plans involve the expansion of the wholesale business into international markets. According to the BDO 2017 Telecommunications Risk Factor Survey, the single largest threat to the largest telecommunication providers in the APAC region is the fast arrival of new technologies. Currently Vonex connects 50 new SME customers per month with this figure expected to increase to 300 per month throughout the NBN cutover period following a successful NSX listing. The capital injection resulting from the upcoming NSX listing will also provide the Oper8tor app with the necessary funding and resources to take this exciting project to initial launch and target the first milestone of 10 million active users and further broaden the value proposition of Vonex. But first, the resolutions in the enclosed NOM need to be passed and I urge shareholders to support the Company by voting in favour of all the resolutions. Yours sincerely VONEX LIMITED Angus Parker Chief Executive Officer
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Hmm is it just a matter of getting an nsx broker and selling my shares? Any idea if open markets will be able to sell my shares or are they exclusive asx? I'll ring them tomorrow and post.
