XTD Limited begins trading on ASX
December 23, 2014: XTD Limited has today listed on the Australian Securities Exchange (ASX) under the code XTD.
The listing follows the reverse takeover of White Eagle Resources Limited and fully subscribed capital raising of $3 million at $0.20 per share. The Company has 123.6 million shares on issue, giving it an undiluted market capitalisation of $24.7 million.
XTD is targeting the global digital OOH (out-of-home) advertising sector. The Company offers the world’s first, designed for rail, cross-track video system and uses billboard-size LED television screens coupled to high definition sound to broadcast advertising and information to train commuters.
XTD has a seven-year contract with Metro Trains Melbourne Pty Ltd (MTM) to operate 32 of its XTD digital screens across its three underground rail stations. The 32 XTD systems were installed on time and within budget and have been fully operational from 15 October, 2014.
APN Outdoor Group Limited (ASX: APO) has been appointed as exclusive sales agent for an initial period of 12 months.
Commencing the roll out and installation of the 32 Melbourne XTD screens in October has allowed XTD to be operating cash flow positive from the first day of trading.
In addition to Melbourne, XTD will install up to 13 screens into the Brisbane City rail network under a seven-year exclusive contract with QR Rail in January 2015. The Company is fully funded to roll out Brisbane which will operate from mid-April next year.
XTD management has met leading outdoor advertising groups and technology companies in the United States of America and is working towards a potential agreement to roll out its system in the US.
Steve Wildisen is the Company’s chief executive. Mr Wildisen is a respected developer of OOH advertising and marketer of technology solutions and co-founder of the XTD technology. He has worked with the world’s largest media groups and has attained unique experience in dealing within the global OOH advertising industry.
The Company’s board comprises Non-Executive Chairman Frank Hurley and Non-Executive directors Stuart Richardson, John Toll and Mark Niutta.
XTD has satisfied the listing requirements under Chapters 1 and 2 of the ASX Listing Rules to achieve reinstatement.
For more information contact:
Investor relations and media
+61 420 580 887