IKE
11/01/2016 08:30
PLACE
PRICE SENSITIVE
REL: 0830 HRS ikeGPS Group Limited (NS)
PLACE: IKE: IKEGPS FINALISES PLACEMENT WITH INVESTORS
For Immediate Release
11 January 2016
IKEGPS FINALISES PLACEMENT WITH INVESTORS
- Raises additional NZ$0.9m in total from institutional investors -
ikeGPS Group Limited (NZX: IKE) today announces that, in addition to an
undisclosed offshore investor who has agreed to invest NZ$0.5 million, two
existing institutional shareholders have agreed to invest an additional
NZ$0.4m in aggregate at NZ$0.81 per share, a 15% premium to the last traded
price. Accordingly, ikeGPS has now advised the NZX that the trading halt on
its ordinary shares can be lifted.
"We welcome this new international investor onto our register and are
delighted with the institutions participation," said ikeGPS CEO, Glenn
Milnes. "This offshore party has significant experience investing in growth
stage investments across the US and Asian markets. As we have stated
previously, we are actively assessing our options in the US capital markets
including the potential for a secondary listing there. Our ability to
attract capital of this calibre is testament to our growth trajectory and
potential to become the measurement platform of choice for targeted
industries seeking to collect, analyse and manage their assets."
ikeGPS intends to use the proceeds from the placement to fuel continued
innovation and capability growth, and specifically to drive development in
the United States market.
About ikeGPS(R)
ikeGPS Group and its subsidiaries design, develop, market, and sell smart
laser measurement solutions. Numerous vertical industries and field data
collection-based professionals use ikeGPS products to modernize the way
measurements are taken and shared.
ikeGPS's product portfolio uniquely combines intelligent software and
hardware into comprehensive but simple-to-use tools. With an IKE photograph,
users can capture measurement, distance, location and other data in real
time, significantly improving business process, user productivity and safety.
ikeGPS is headquartered in Wellington, New Zealand. The company's global
sales, marketing and customer support teams are based in Broomfield,
Colorado, with engineering operations based in Seattle.
Contact
Glenn Milnes, CEO
ikeGPS Limited
+1 720-418-1936
[email protected]
End CA:00276186 For:IKE Type:PLACE Time:2016-01-11 08:30:18
