Sydney - Friday - March 14: (RWE Aust Business News) -...

Sydney - Friday - March 14: (RWE Aust Business News) - QuikTrak
Networks (ASX:QTK) will make a fully underwritten 1-for-3
non-renounceable rights issue.
The offer will be at 2.2c a share and the record date is April 2.
The offer is a discount of 8pc on the volume weighted average
share price over the seven day period ending March 12.
The chief executive Mark Pallister will take up his full
entitlement under the offer.
The purpose of the issue is to enable an unrelated company,
QuikTrak South Africa, the licensee of the network in South Africa, to
forego their rights under a previous agreement to acquire QTK's
technology, in exchange for an equity stake.
They will underwrite the rights issue.