Shareholders of NetComm Limited (ASX: NTC) have overwhelmingly supported the $2.275 million cash and shares acquisition of Call Direct Cellular Solutions 2003 Pty Lt
Shareholders of NetComm Limited (ASX: NTC) have overwhelmingly supported the $2.275 million cash and shares acquisition of Call Direct Cellular Solutions 2003 Pty Ltd.
The acquisition adds further 3G wireless broadband expertise in line with NetComm boards strategy to be a significant provider of wireless broadband technology in Australian and overseas markets. Call Direct is a specialist developer of industrial 3G wireless data and voice solutions for diverse industrial and commercial applications including security, surveillance, public infrastructure, agribusiness and mining.
The chairman, Terry Winters, spoke about NetComms strategy to build on current growth in three key areas: wireless broadband; network management products and services; and the core business of broadband networking solutions, plus the companys expansion into new international markets and its increased penetration into new domestic commercial markets.
Attendees at the AGM also heard Terry Winters confirm first half 2009 expected half-year revenue of $38 million to $42 million, calling it a significant change in the expected half-year revenues compared to the same period last year of $9.6 million.
Mr Winters also advised the meeting that there was no expectation of a large increase in operating costs or staff numbers, and he confirmed the companys intention to reinstate its dividend policy for the 2008/09 full year, subject to any material change in circumstances.
A number of resolutions were passed at the AGM, including the re-election of John Brennan as a director, the approval of the employee option plan, approval of various directors share option plans, and approval for the issuing of shares in relation to the Call Direct acquisition.