Connexion Media Closes Rights Issue Oversubscribed

ASX Announcement, 2 March 2015: 

Connexion Media Limited (ASX:CXZ), an innovator in the connected car market, has closed its non-renounceable pro-rata issue of options to shareholders oversubscribed.

The offer of two new listed options for every three shares held in the company was conducted at an issue price of $0.015 per new option and raised the maximum funds allowed of $821,198.

The new options will trade from 6 March 2015 and be exercisable at 20 cents any time prior to 5pm on 28 February 2017.

Due to the oversubscription of the offer distribution of the options will be scaled back accordingly.

“We are very pleased with the level of support the rights issue has received,” said Connexion Media CEO and managing director George Parthimos.

“This demonstrates confidence from our shareholders after a period of rapid news flow that will continue as we approach the launch of the Flex vehicle management service in the coming weeks.”

The rights issue was full underwritten by PAC Partners Pty Ltd and was available to eligible shareholders from Australia or New Zealand as at 5pm EDST Friday 6 February 2015.

CONTACT

George Parthimos                        Rudi Michelson
CEO & Managing Director          Monsoon Communications
Connexion Media Limited           [email protected]
[email protected]

 About Connexion Media
Connexion Media Ltd (ASX:CXZ) is a technology company specialising in developing and commercialising software apps and services for the web connected car, mobile device and connected consumer electronics markets. It is based in Melbourne Australia, with a sales office in Cambridge UK.

About miRoamer
miRoamer is a category-leading digital media platform for vastly improved internet radio and music entertainment. It can be installed in a variety of consumer electronics including car radios, smart phones, gaming consoles, televisions and stereo systems. Users get media content from a common platform using as many electronic devices as they wish. miRoamer enables access to favourite content providers and stations as well as customising the access. miRoamer is licensed by some of the world’s big and prestigious automotive and consumer electronics companies.
www.miroamer.com

About Flex
Flex is a cloud based, integrated vehicle management system that gives you control over your entire fleet of cars, trucks and other vehicles from a central point. It simultaneously tracks – in real time – all key performance indicators of your vehicles such as geo-location, fuel, distance, engine, and speed. It also helps improve productivity, driver behavior, and increase awareness of vehicle or fleet performance.
www.flexvs.com