Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

HARRIS TECHNOLOGY GROUP LIMITED Capital/Financing Update 2008

Apr 27, 2008

65074_rns_2008-04-27_1acbd346-2338-4db5-b56c-b5045b103313.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [129 x 73] intentionally omitted <==

ASX ANNOUNCEMENT - FOR IMMEDIATE RELEASE – 28 April 2008 AGREEMENT TO DOUBLE DIGITAL SIGNAGE NETWORK

Swish Group (ASX:SWG) announces that it has entered into an agreement with Bill Express Limited (ASX:BXP) subsidiary, Xip Media Pty Ltd, to sell advertising onto its extensive digital signage network which operates over 5,000 video screens in approximately 2,200 newsagencies and convenience stores throughout Australia. The agreement applies to all existing Bill Express newsagencies and any future sites and will, when combined with the Swish Group digital signage network of approximately 1,900 screens in 1,800 venues, make it the largest digital signage network in Australia with approximately 7,000 screens in 4,000 venues. The combined Swish Group/Xip Media network will be more than ten times the size of its largest competitor in the rapidly growing digital signage / out-ofhome market.

The newsagency and convenience store digital signage network will be sold alongside Swish Group’s existing Pharmacy TV and Good Health TV digital signage networks which screen in pharmacies, medical centres and hospitals and consists of audio visual screens for the screening of entertainment, information and advertising aimed at customers while they are shopping or waiting for service . The combining of the two largest digital signage networks in Australia will, for the first time, enable the digital signage advertising medium to be sold more efficiently and effectively, thereby increasing the share of media spent on digital signage.

Swish Group has been rapidly expanding its digital signage advertising sales team over the past year and currently has a team of 7 senior sales professionals with more than 60 years combined advertising sales experience operating out of offices in Sydney and Melbourne and covering the Brisbane, Adelaide and Perth markets.

Swish Group continues to aggressively grow its digital signage business through organic growth, acquisition and sales representation agreements, pursuant to which it receives a percentage of all media sales generated. This agreement is a significant step in the Company’s strategy of aggregating the major digital signage networks and companies and making the rapidly growing digital signage advertising medium easier for advertisers to buy. The combining of Australia’s two major digital signage networks will also enable the Company to amortise its national sales infrastructure and costs across a significantly larger network and improve operating margins. The Company expects its digital signage advertising sales to grow significantly over the next financial year.

Swish Group Managing Director Cary Stynes said: “We are delighted to be able to combine the two largest digital signage networks as it further entrenches our leading position in the digital signage market. The consolidation of the digital signage industry in Australia will ensure the success of the medium and enable it to begin to replicate some of the significant growth rates that the medium is experiencing internationally. The agreement is expected to deliver to Swish Group a substantial increase in revenue and earnings from this area of its business”.

John Smallwood CEO of Xip Media said: “Combining the two largest digital signage networks in Australia is a significant step in the development of digital out of home media. Bill Express/Xip Media is delighted to be working with Swish Group to grow the medium and believes that this will enable digital signage to significantly increase its presence and share of advertising expenditure in Australia” .

The Swish Group Limited (ACN 085 545 973 Level 1, 102 Toorak Road, South Yarra, VIC 3141

About Swish Group:

The Swish Group Limited (ASX codes: SWG, SWGO) businesses include Australia’s largest digital signage network and largest wholesaler of independent digital music, a comprehensive film and television production and distribution business and a telecommunications sales and marketing business. The company is listed on the Australian Securities Exchange with a market capitalisation of $6.3m.

Websites : www.swishgroup.com.au, www.ampheadmusic.com, www.blackcatfilms.com.au, www.mgdistribution.com.au

Cary Stynes

T: +613 9820 1966 M: +61 412 111 821 E: [email protected]