announcement...read

BROAD INVESTMENTS LIMITED
ACN 087 813 090
To: Australian Stock Exchange Limited
From: Broad Investments Limited (“BRO”)
Date: 2 March 2007
Subject: Update on current status and future activities
Following recent fund raising and the reduction of substantial debt which has
improved the Balance Sheet of the Company the members of the Board of BRO have
received numerous calls requesting an update on the activities of the Company and in
particular if the improved position and the available funds will lead to any Corporate
Activity or expansion of existing operations to enhance cash flow and/or shareholder
value.
The Board has also noticed an improvement in the share price of the Company and an
increase in volume of trading in recent days which is encouraging, as it suggests some
level of recognition of the improved position and an expectation that there is now
capacity to implement the marketing strategy and to proceed with any opportunities
that may be available to the Company.
The Board is pleased to advise that as foreshadowed in previous releases, it is actively
pursuing opportunities and has held discussions with several parties with a range of
value adding proposals and in recent days has reached an advanced stage of
discussions and negotiations with at least one group and hopes to complete a
transaction within the next fortnight, which in its opinion has the potential to add
substantial value for shareholders.
Furthermore, separate from the above, additional fund raising opportunities are also
being considered to further improve the Company’s Balance Sheet and place it in a
stronger position in any negotiations.
By Order of the Board
Broad Investments Limited
The Board of BRO is pleased to advise that the raising of the $551,000 in working
capital and the retirement of $419,475 in debt and satisfaction of creditors, as detailed
in the attached Appendix 3B, will considerably strengthen the Balance Sheet of the
Company and provide sufficient capital for the foreseeable future.
The Board will now more aggressively take up its marketing strategy for its Glovebox
and MTX/Pocket Portal products and act with greater confidence in pursuing
corporate activities or opportunities that it has identified.
The Board is particularly pleased with being able to issue the securities at a premium
to the average market price over recent trading days, suggesting some investors may
consider there is greater value in the Company than currently recognised by the
market.
The Board intends to soon provide an update on recent activities and progress in
enhancing its technology, products and services.
Yours faithfully
Broad Investments Limited
Vaz Hovanessian
Executive Chairman
BROAD INVESTMENTS LIMITED
ACN 087 813 090
To: Australian Stock Exchange Limited
From: Broad Investments Limited
Date: 5 February 2007
Subject: Appendix 3B and Notice Pursuant to Section 708A(5)(e)
_____________________________________________________________________
Notice is hereby given pursuant to Section 708A(5)(e) of the corporations Act 2001
(“Act”) that on 2nd February 2007 Broad Investments Limited (“BRO”) issued
275,992,857 fully paid ordinary shares and 384,064,318 options to subscribe for
shares in the capital of the Company without a disclosure document being issued to
the investor/s under part 6D.2 of the Act.
All of the shares were issued in accordance with Resolution 7 as approved at the last
AGM of the Company in November 2006 and in accordance with Chapter 7 of the
ASX Listing Rules.
As at the date of this notice:
- The Company has complied with the provisions of Chapter 2M of the Act
as they apply to the Company or it has relief from ASIC is respect to any
breaches of Chapter 2M;
- The Company has complied with Section 674 of the Act; and
- There is no “excluded information” within the meaning of that term given
in the Act which has not been disclosed to the market.
Yours faithfully
Broad Investments Limited
Vaz Hovanessian
Executive Chairman