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Defence Comms Supplier Relists on ASX - Predicts Growth to $100 Million

  • 28 April, 2004 17:23

<p>Two specialised Australian communications technology companies currently contracted to build and maintain highly sensitive, secure, voice, video and data networks for major Local, State and Federal Government Departments including Defence and Foreign Affairs &amp; Trade have gained shareholder approval and successfully raised $1.5 million to fund their merger.</p>
<p>The ASX has approved the relisting of the merged "Next Generation Communications Company" to be known as Allied Technologies Group Limited (formerly ServicePoint) which will be listed under the ASX code "ATZ" from 10 am today, Thursday April 29.</p>
<p>NOTE RESELLER ALLIANCES: The merged group have established alliances and relationships with key providers of technology and developers such as Aprisma Technologies, Nortel Networks, Cisco, Enterasys, 3com, Krone, Lucent Technologies, Siemon, ModTap, Panduit, AMP and 3M Volition and proven strategic partnerships with KAZ (Aspect Computing), Telstra, Cable &amp; Wireless OPTUS, IBM and CSC Australia.</p>
<p>"With an established annual growth rate of over 17% and more than $12 Million in new contracts currently identified in the pipeline from Federal, State and Local Governments, including Health, Education and Defence, the merged group is not only immediately profitable, but is well on the way to achieving the stated target of $100 Million in annual turnover in the short to medium term," a delighted Chairman Michael Addison said today.</p>
<p>MEDIA CONTACTS: Terry Quinn WordsPLUS 02 9460 0145; 0439 710 418</p>
<p>Chairman Michael Addison 02 8259 4100; 0414 579 278</p>
<p>CEO Ray Doak 02 6242 3000; 0407 709 100</p>
<p>PRESS RELEASE DETAIL:</p>
<p>Sydney April 29: The Australian Stock Exchange (ASX) has approved the relisting of Allied Technologies Group Limited (formerly known as ServicePoint Limited) from the commencement of trading at 10 am today Thursday April 29. The Company will trade under the ASX code, ATZ.</p>
<p>The relisting follows the granting of shareholder approval, the successful raising of $A1.5 million under a prospectus share offer and the completion of the merger between Allied and ServicePoint.</p>
<p>Mr Ray Doak, Allied’s Managing Director, Founder, and Chief Executive Officer, has been named Managing Director and Chief Executive Officer of the new Company. Mr Andrew Berriman, formerly CEO of ServicePoint will remain on as a director with special responsibilities for videoconferencing, while Mr Michael Addison has been appointed Executive Chairman.</p>
<p>Allied Technologies was, until the merger, a privately owned Australian professional services technology group that specialised in the design, integration, installation and maintenance of communications networks. Based in Canberra, and with regional offices in Sydney, Newcastle, Brisbane and Townsville, the Allied Technologies Group employs a total of some 200 people, many embedded in Defence establishments around the country.</p>
<p>Allied, as part of the Telstra team, currently maintains and manages the Department of Defence physical voice network, which encompasses some 520 national points of presence from over 30 dedicated in-situ locations around Australia. For the past 5 years Allied has also maintained the voice network for the Department of Foreign Affairs and Trade located in Canberra.</p>
<p>ServicePoint’s operations currently centre on the delivery of secure video and web based visual communication and collaboration services. The company’s principal customer is also the Australian Department of Defence.</p>
<p>"We believe the merger has a market logic that will make it very attractive to investors," Mr. Addison said today.</p>
<p>The group will continue to work closely with the Department of Defence, the Defence Panel of Systems Integrators and other large organisations, offering total systems integration and management services to government agencies and private enterprise.</p>
<p>Both Allied and ServicePoint have long standing and continuing contracts including fixed base operations established within Federal Government Agencies (such as Defence and DFAT installations); providing a stable proportion of revenue. These ongoing relationships place the merged organisation in a strong position to win multi million-dollar technology upgrades of Australian Government Agency networks, which are pending,</p>
<p>"The merged Allied Technologies Group now has the critical mass to take advantage of the significant</p>
<p>growth opportunities that exist in the Australian communications industry today," CEO Ray Doak said in Canberra.</p>
<p>"We believe our combined strengths will open significant and already identified opportunities in project management and facilities management in the communication sector, not only within Australia but in the wider Asia Pacific area as well.," Mr. Doak said.</p>
<p>"The competitive advantage gained through the combined experience of the management team, the convergence of data, voice and video services over common transmission technologies, wider penetration into the secure communications arena with appropriate security accredited personnel, and the management of large and complex converged communication networks, evolving around enterprise management solutions, offers extensive potential for growth," Mr. Doak said.</p>
<p>Chairman Addison said that with Allied’s post merger budgeted annual turnover of approximately $32 million and with net tangible assets of over $4 million, the directors were of the opinion that the merger positions the Company well to reach the targeted $100 million turnover in the short to medium term.</p>
<p>"Turnover growth will be driven via a combination of organic growth within the combined organisation and acquisitions of several small but profitable companies currently operating in our area which have already been identified and which will be pursued over coming months," the Chairman said.</p>
<p>"The merging of ServicePoint’s and Allied’s businesses has instantly resulted in the creation of a relatively large, profitable and uniquely configured Next Generation Information &amp; Communications Technology Company with an enhanced ability to deliver a broad range of highly secure voice, data, video and web based communications services and solutions at a time when Australia, and the World, are facing some of their greatest security challenges," Mr. Addison said.</p>
<p>"The ability of both companies to win lucrative contracts within sensitive areas of secure government-to-government communications will be enhanced by the fact that the merged organisation will be able to call on a combined team of highly skilled, experienced technical experts, including personnel holding appropriate security clearances, some of which are currently deployed across military bases throughout the country," Mr. Addison concluded.</p>
<p>For more information please contact Terry Quinn WordsPLUS 02 9460 0145; 0439 710 418 or email quinnid@ozemail.com.au</p>
<p>ENDS</p>

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