QPX qpsx limited


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    HOMEX - Perth

    Leading technology commercialisation company QPSX Ltd (ASX Code
    "QPX") today announced that it intends to increase its shareholder
    base by way of a $3 million Shareholder Purchase Plan ("SPP") in
    tandem with a placement underwritten by Paterson Ord Minnett. The
    actual number of fully paid ordinary shares to be offered under the
    placement and the SPP has been capped at 6,000,000 shares (at an
    offer price of 50 per share). However, the number of shares to be
    taken up under the placement will be calculated by reference to the
    number of shares not subscribed for under the SPP so that when taken
    together the total number of new shares issued will not exceed
    6,000,000, raising a total amount of $3 million.

    QPSX proposes to make the SPP offer to shareholders pursuant to ASIC
    Class Order CO/194 under which shareholders may apply for shares in
    QPSX up to a maximum of $3,000 (and minimum of $501) per shareholder
    (where joint shareholders are treated as one shareholder). If QPSX
    receives applications for more than 6,000,000 shares then QPSX will
    scale back each application received so that no more than 6,000,000
    shares are issued. If QPSX receives applications for less than
    6,000,000 shares, then those institutions participating in the
    underwritten placement will subscribe for the shortfall shares at 50
    per share such that QPSX receives $3 million.

    The principal use of the funds to be raised by the SPP will be to
    accelerate licensing programs for QPSX's existing intellectual
    property in Europe and North America.

    The Record Date for the SPP has been set at 5:00pm (WST) Friday, 21
    June 2002. The QPSX Board has determined that all registered
    shareholders of QPSX ordinary shares on the Record Date with a
    registered address in either Australia or New Zealand are eligible to
    participate in the SPP. Any potential buyers of QPSX shares following
    this announcement should check with their stockbroker or investment
    adviser to establish whether they will be entitled to participate in
    the SPP. There is no requirement for QPSX to obtain shareholder
    approval in order to effect the SPP and Placement.


    QPSX's focus is the profitable commercialisation of a range of
    technologies on a global basis. QPSX works with research institutions
    and companies across Asia Pacific to capture value in such
    technologies. This value is realised by QPSX's licensees and
    commercial partners through products that shape the future within
    their global markets.

    Further Information

    QPSX Ltd
    Contact: Graham Griffiths,
    Telephone: 08 9381 9518
    Mobile: 0412 294 802
    E-mail: [email protected]
    Website: http:/www.qpsx.com

    Paterson Ord Minnett Ltd
    Contact Robert de la Motte
    Director Corporate Finance
    Telephone: 08 9263 1111
    Mobile: 0419 919 718

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Currently unlisted public company.

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