Datafast Telecommunications Limited
Major ISP Acquisition
12 November 2003
Datafast Telecommunication Ltd (ASX Code: DFT) has entered into an agreement to acquire Key
Point Pty Ltd.
The addition of the 25,000 plus customer ISP gives Datafast over 85,000 active accounts, catapulting
it into the ranks of Australia’s Top 10 Internet Service Providers.
The deal, which incorporates cash, shares and options, will be presented for shareholder approval at
the Annual General Meeting to be held on 23 December 2003. Datafast has received the appropriate
approvals to extend its AGM to this date.
Chief Executive Officer Simon Ehrenfeld said today that substantial synergies would be delivered
through the merging of the operations of both companies.
“The EFTel acquisition has already delivered significant financial benefits and the Key Point
acquisition is a further boost. We will have trebled the retail customer base within a 12 month period
once the acquisition is completed.”
Upon approval of the deal, existing Datafast shareholders will receive a free option, exercisable at 3
cents, for every 10 shares they hold.
Enquiries
Chief Executive Officer
08 9420 9999
DFT
datafast telecommunications limited
