QPX qpsx limited

co. announcement

  1. 1,691 Posts.
    HOMEX - Perth

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    QPSX has reached agreement to issue 4 million shares at $0.40 each
    together with 4 million options exercisable at $0.65 cents and
    expiring on 31 May 2004, to raise a total of $1.6 million. The
    transaction, which was brokered by Burdett Buckeridge Young Ltd, is
    an excluded offer to Australian institutions andhigh net worth
    individuals. A significant feature of the issue is that several new
    institutions will be introduced to the share register and they will
    provide the majority of new funds. The funds will be used to meet
    modest working capital requirements.

    QPSX has a strong IP portfolio and is in the advanced stages of
    Intellectual property litigation in Germany against Deutsche Telekom
    and Siemens. The action for significant recovery of damages is
    currently proceeding positively and to QPSXs expectations. The board
    wishes it to be known that dividends flowing from damages payable to
    QPSX from breach of its patented technology and other future income
    sources will be paid out to shareholders at a minimum rate of 50% of
    after tax profits.

    Please read ASX release dated 19 May 2003 for an appraisal of the
    action.

    See also attached Appendix 3B.

    QPSX

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

    Further Information:
    Graham Griffiths, Chief Executive Officer, QPSX Ltd
    Tel: 08 9381 9518
    Email: [email protected]
    Websites: http://www.qpsx.com


 
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