23 September 2002

The share float of Christchurch electronics engineering company Connexionz Limited which aimed to raise $4.5 million, closed last Friday having raised $1.5 million.

Executive director Tony Kan said there were a total of 310 subscribers with an average of about 5000 $1 shares per shareholder.

“The directors regard this result as very satisfactory, given volatile international sharemarkets and the local sentiment towards company flotations,” said Mr Kan.

“Interest in the prospectus was high, with 3950 requests for the hard copy of the prospectus and 7070 physical downloads from the website.

“While the total subscriptions are in the middle range of what we aimed for, they will still provide sufficient capital for Connexionz’ prospectus forecasts,” he said.

Connexionz’ $1 shares would begin quotation on Wednesday 24 September on the unlisted securities market which is accessible through any sharebroker.

For further information contact: Tony Kan 025 339 745.