I think you are underestimating the nature of GCN's contribution.
You call it "the only free WiFi listed company in Australia."
That may be true, but I don't see it as the real point. Anybody can set up free WiFi (Stocklands already has three stores with free WiFi).
What GCN has to offer is much more useful and challenging, as the announcement makes plain:
"The Stockland GoConnect Free WiFi Marketing Platform is being customised for Stockland shopping centres and should become a powerful communication and mediamarketing platform for its tenants, able to generate new revenues for both Stockland and GoConnect.The Platform enables targeted interactive marketing messages to be delivered in graphics, video and text to the shopping centre visitors."
If GCN can carry this off then it gives it an edge over companies that merely provide free WiFi. Indeed GCN does not have to provide the free WiFi at all.
As for the 'contract with Stocklands', that is the first time I have seen that word mentioned. The announcement talks of an 'agreement', which is quite a different matter in the world of commercial law. It would be nice if GCN had an enforceable contract to provides its services to 42 Stocklands malls. Knowing that it did would have an upwards effect on the share price.
My guess is that there is no contract, just an agreement.
GCN Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
