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ORCODA LIMITED — Capital/Financing Update 2014
Oct 29, 2014
65482_rns_2014-10-29_c71a21be-14e3-4bfd-9944-e1f775d83cfb.pdf
Capital/Financing Update
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SmartTrans well capitalised for growth following successful $1.8 million private placement with BBY
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$1.8 million raised to fast-track growth of mobile payments platform in China
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SmartTrans secures funds to pursue focused growth opportunities in online payments sector
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Additional contracts with new third parties wishing to utilise payments platform are pending
30 October 2014: Mobile and online payments platform and logistics software provider SmartTrans Holding Limited (ASX: SMA) (‘SmartTrans’ or ‘the Company’) is pleased to confirm that it has agreed to raise $1.8m from a private placement (the Placement) of 180,000,000 New Fully Paid Ordinary Shares to a number of strategic sophisticated investors at $0.01 cent per share.
The funds raised will be used to fast-track the growth and development of the company’s proprietary mobile payments platform in China, and to strengthen third party uptake of the platform with companies inside Chinas and other international markets.
SmartTrans is well placed to build on its growing revenue base with a significantly reduced cost base in FY2015 and the company is now focused on growing two well defined areas of its business.
The company saw good growth in revenue for the first quarter in FY2015 from its mobile and online payments platform in China. The Board and Management team are now pursuing opportunities to strengthen this business with a number of contracts currently in the pre-completion phase.
As previously communicated to shareholders, SmartTrans is now well placed in the China market with direct-to-phone billing agreements in place with the subscribers of China Mobile, China Unicom and China Telecom, which these telcos report that collectively number 1.26 billion*. SmartTrans also has agreements in place to have its mobile billing platform integrated into Apps with four Chinese smartphone game developers.
SmartTrans’ Managing Director Mr Bryan Carr commented: “We are pleased to have secured the support of these new shareholders and to have raised $1.8m to help drive SmartTrans to the next phase of growth and maturity.”
“After a transformational year in FY2014 during which we significantly lowered our cost base and streamlined the business into two dedicated divisions, we now have a very solid platform in place upon which to develop our operations and grow our revenue base.”
“With the solid revenue we have seen in the first quarter of FY2015 and this funding now in place, we are confident of SmartTrans’ future prospects and look forward to updating shareholders on a number of new contracts and agreements in the months to come.”
SmartTrans is in the final stages of negotiating a new third party agreement for its payments platform with a recognised Mainland Chinese media company and expects to update shareholders on the terms of this agreement early next week.
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| Further information please contact: | About SmartTrans |
|---|---|
| Bryan Carr | SmartTrans Holdings Limited (ASX: SMA) is a leading Australian technology and software provider that |
| Managing DirectorAUST: +61 412 111 968CHINA: +86 138 1188 8401 | has developed a mobile and online billing and payment platform for the China market. The companyhas agreements in place with China Mobile, China Unicom, China Telecom CMPay, UnionPay andAlipay. With the growing use of the smartphone as a billing device in China, the company isexperiencing significant uptake of its technology in that market. SmartTrans has also developed |
| cutting-edge proprietary logistics software which is used by some of Australia’s leading blue-chip | |
| Media inquiries to: Ben Jarvis, | organisations who have long term contracts in place with the company. SmartTrans is assessing |
| Six Degrees Investor Relations: | growth opportunities for its logistic offering in China to complement its mobile and online payments |
| +61 413 150 448 | platform. |
Melbourne Sydney Beijing Level 1 Suite 37 101, Building 22, 10 Queens Road 401 Pacific Highway Courtyard 4 Gongti Bei Lu MELBOURNE ARTARMON Chaoyang District VIC 3004 NSW 2064 BEIJING CBD, 100027 Ph: (03) 9866 7333 Ph: (02) 9660 4564 Ph: +86 (10) 6500 0910