 08 -14 November 2000 |
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Datatrak public offering begins tomorrow 60% of share issue booked through pre-placement - first to form part of MSE’s Alternative Companies List Datatrak Holdings plc launched its first public share issue on Monday - with 60 per cent of its of the public offering already taken up through pre-placement. Datatrak’s total public offering amounts to four million ordinary shares issued at Lm1 each while the issue will open tomorrow and close on 15 November, explained Datatrak Chairman Walter Bonnici at the shares’ launch. The share issue is the first to be listed on the Malta Stock Exchange’s Alternative Companies List, which was set up approximately one year ago by the Exchange in a bid to create a second-tier market. The ACL has laid the groundwork for any emerging or established company with access to equity or loan capital to list itself on the Exchange – regardless of past performance or size. Datatrak shares form part of a single class of shares, as there are no preferred shares or deferred rights. Datatrak Holdings owns 100 per cent of the issued share capital of Datatrak Systems Ltd, 100 per cent of Datatrak MENA Ltd and 50 per cent of Datatrak Information Technology Services Ltd. Datatrak Holdings plc, through these subsidiaries, is developing and operating communications networks, integrating information technology and mobile positioning systems, with a particular focus on applications for public safety, security, and the management of mobile assets. Finance raised through this share issue has been earmarked for funding the continued growth of the group, more particularly for its expansion into the markets of the Gulf States, the Middle East and North Africa. In fact, CEO Alex Falzon explained that a letter of intent has been signed with the Libyan authorities to install Datatrak systems there. As with most shares, shares purchased through the public offering will entitle their holders to attend general meetings of shareholders, to vote on the basis of one vote per share held and will also entitle them to dividends declared and paid by Datatrak Holdings plc. HSBC Bank Malta will serve as manager, registrar and underwriter of the issue while David Curmi of Curmi & Mallia (Stockbrokers) Ltd is the sponsoring stockbroker. The reporting accountants and auditors are KPMG while Camilleri, Preziosi & Associates have provided legal counsel throughout the process. Datatrak was established in 1998 by Maltacom, Siemens Datatrak and a group of Maltese private investors and is licensed to operate an automatic vehicle location radio network with two-way data communications and was also responsible for developing the software package that enables wardens to issue on the spot traffic tickets. Meanwhile, another system to monitor Malta’s traffic lights network has been developed, which informs maintenance crews immediately when a traffic light malfunctions. | ||||||
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