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CONNEXION MOBILITY LTD — Capital/Financing Update 2004
Feb 5, 2004
64739_rns_2004-02-05_d1178268-1c32-494f-903b-5e5d60fff08f.pdf
Capital/Financing Update
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ASX - MARKET ANNOUNCEMENT: 6 FEBRUARY 2004
AGREEMENT WITH SYNERGY XPRESS PTY LTD
ECSI Limited is pleased to announce it has finalised negotiations with Synergy Xpress Pty Ltd for all rights including copyright, software support and source codes to SYNERGY XPRESS Sports software by the issue to Synergy Xpress of 11,265,000 ECSI Limited shares at A\$0,04 each. The software allows for integrated use by sporting groups, clubs and associations to administer competitions and produce web based results, standings and tables. The software has been successfully integrated with marketing and promotional programmes in Australian sporting events such as the "Shark" Challenge" and "International Netball Showdown". ECSI sees significant opportunities to integrate the software within its China based operations and capitalise on the growing focus on sport and sports marketing in the lead up to the 2008 Beiling Olympics.
In addition. Synergy Xpress has entered into a service agreement for its Professional Services Group to provide corporate and financial communications and investor relation services to ECSI, included under the terms of the confidential service agreement. Synergy will receive 9 million ECSI Limited A\$0.06 1-year options.
CEO, Graeme Green, said that the outsourcing of these services would enable the Board and executives of ECSI to focus their resources on bringing to fruition several other Australia/China business opportunities.
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