Browsing articles in "ASX Announcements"

Vocus expands Western Australian presence with acquisition of the Bentley Data Centre

Aug 13, 2014   //   by Vocus   //   ASX Announcements, Vocus News  // 

Vocus Communications Limited (ASX: VOC) is pleased to announce it has expanded its data centre presence in Western Australia by entering into an agreement to buy the state of the art Bentley Data Centre from ASX listed IT solutions provider ASG Group Limited (ASX:ASG).

The data centre is located on the fringes of the Perth CBD in the Bentley Technology Park and is approximately 4km from Vocus’ existing Perth data centre. The Bentley Data Centre opened in 2011 and services some of Australia’s largest mining and utilities companies under long term contracts.

ASG is also a tenant of the data centre providing hosting services to their managed services clients. As part of the acquisition, Vocus will become preferred supplier to ASG for all telecommunications services both locally in Perth and across Australia.

The purchase price for the data centre is $11.7m and is funded from existing cash resources. The acquisition is forecast to generate annualised EBITDA of approximately $2.0 million and to be EPS accretive in the first year.

Vocus CEO, James Spenceley said, “The acquisition continues our investment in Perth and provides Vocus with additional resources to serve the fast-growing Western Australia market.

We are delighted to acquire the high quality Bentley Data Centre and secure the preferred supplier relationship with ASG, one of the largest IT solutions providers in Australia.

The Bentley Data Centre has many long-term, blue chip customers and will provide Vocus with additional cross-selling opportunities and further redundancy for existing operations.

We look forward to a long, mutually beneficial relationship with these clients and with ASG for many years to come.”

Vocus proposes to acquire 100% of New Zealand’s FX Networks

Jul 2, 2014   //   by Vocus   //   ASX Announcements, Vocus Investor, Vocus News  // 

Creates the leading trans-Tasman Telco

Vocus Communications Limited (ASX: VOC) is pleased to announce it has entered into agreements with the shareholders of FX Networks Limited (FX) to acquire 100% of the issued capital of the New Zealand fibre provider.

FX owns a unique and high quality fibre optic network consisting of 4,132 kms of modern ducted fibre cable covering both the North and South Islands of New Zealand. The company has 365 customers including 43 of the Top 100 companies in New Zealand.

Vocus will acquire FX for an enterprise value of NZ$115.8m (~A$107.7m). The FX business is expected to deliver NZ$13.5-$14.5m of EBITDA in the first 12 months post acquisition (excluding transaction and integration expenses).

The combination of Vocus and FX strengthens both businesses. Vocus will emerge as the third largest network operator in NZ and the clear leader in trans-Tasman telecommunications and data centres.

Vocus CEO, James Spenceley said, “FX has built an excellent fibre asset reaching all major population centres across New Zealand. There exists an exciting opportunity in New Zealand to mirror the success we have had in Australia as the only integrated provider of fibre, Internet and data centres. The FX acquisition adds the missing fibre piece to our existing data centre and Internet investment in New Zealand”.

FX CEO, David Heald said, “This transaction allows FX to move to the next phase of its corporate development. We have fundamentally completed the build of New Zealand’s most modern fibre network. The addition of Vocus’ financial strength and other NZ assets together with a shared culture focused on delivering exceptional outcomes to customers, means this transaction will give a positive outcome for both shareholders and customers alike”.

The acquisition is fully funded funded via current cash holdings, a new multicurrency senior debt facility with the Commonwealth Bank of Australia and Vocus scrip issued to FX shareholders. FX shareholders may accept a combination of shares and/or cash (up to a cap of NZ$20.5m). Depending on acceptances by FX shareholders, Vocus will issue between 8.8m – 13.1m shares issued at A$4.40 per share, a 5% discount to the 5 day VWAP and a 1.3% premium to the 30 day VWAP prior to 30 June 2014.

The structure of the financing will provide Vocus with an additional unused debt facility of circa A$40m to continue to seek growth opportunities.

Vocus has received agreements from 77.1% of FX shareholders indicating they will accept the offer and the transaction is expected to complete early Q2 FY2015.

Formal process and indicative timing
Completion of the FX acquisition will be subject to a number of conditions precedent including (but not limited to):
• Vocus shareholder approval for the purposes of ASX Listing Rule 7.1, to be obtained at an EGM scheduled to be held in late August 2014, with a notice of meeting to be despatched in late July 2014
• Acceptances by more than 90% of FX shareholders of the offer:
• Takeover Offer Document, Target Company Statement and Independent Expert’s Report released in late August 2014
• 50% of the shares issued to FX shareholders being subject to escrow conditions
• Receipt of change of control consents from certain key commercial counterparties
• No event having occurred under Vocus’ funding arrangements which would allow Commonwealth Bank of Australia to withdraw its funding commitment to Vocus

For more information: James Spenceley
Chief Executive Officer
T: 02 8999 8999
info@vocus.com.au

About Vocus (ASX:VOC): Vocus Communications is an ASX listed leading telecommunications provider of Data Centre, Dark Fibre and International Internet connectivity across Australia, NZ, Singapore and the US. The company provides high performance, high availability, and highly scalable communications solutions, which allow service providers to quickly and easily deploy new services for their own customer base.

Vocus Communications Limited (ASX:VOC) makes into the ASX 300

Mar 7, 2014   //   by Vocus   //   ASX Announcements, Board of Directors, Vocus News  // 

Vocus Communications Limited (ASX:VOC) is pleased to announce that it has been admitted to the S&P ASX 300 Index, effective from the close of trade on March 21, 2014, as part of S&P’s quarterly rebalancing. The S&P/ASX 300 is comprised of the top 300 listed companies in Australia. In order to be eligible for inclusion in any of the S&P/ASX indices, stocks must meet certain criteria regarding listing, size and liquidity.

The admission caps off a strong year for Vocus, having been admitted to the All Ordinaries index (which represents the top 500 companies by market capitalisation) in March 2013.

Read the full S&P Index Announcement here

For more information on (ASX:VOC) read the HY14 Results Presentation

Vocus NZ News – Vocus Divests Retail Back Up Business Datalock Limited

Mar 21, 2013   //   by Vocus   //   ASX Announcements, Our Network, Vocus Investor, Vocus News, Vocus Products  // 

VOCUS Communications Limited (ASX: VOC) today announces the divestment of the New Zealand Retail Backup business Datalock Limited (Datalock)

Maxnet Limited was acquired by Vocus in May 2012. As part of that acquisition, Vocus acquired a New Zealand Retail Data Backup business, Datalock. This wholly owned subsidiary of Maxnet was not considered to form part of Vocus’ core business.

Vocus has entered into a binding agreement to sell the customers of Datalock to j2 (NASDAQ:JCOM). The consideration for the sale is NZ$600,000. The disposal is not expected to have any impact on the EBITDA of Vocus.

Vocus is continually reviewing its acquired businesses to ensure that focus remains on its core competencies and that it is able to leverage its assets for the benefit of its shareholders. This Datalock sale marks the first sale of a non core business unit within an acquired business. The funds received will be recycled into Vocus’ core products.

James Spenceley, CEO, said of the deal “j2 are an excellent partner with global presence and a long service history to provide the retail online backup customers with the high level of service that they have come to expect. This divestment represents Vocus’ commitment to its core businesses.”

Read the complete press release here

Photo shows Vocus Albany, NZ Office

Vocus Declares Maiden Dividend

Feb 28, 2013   //   by Vocus   //   ASX Announcements, Board of Directors, Vocus Investor, Vocus News  // 

VOCUS Communications Limited (ASX: VOC), a leading Australian provider of Internet, Fibre, Voice and Data Centre services, today announced its results for the half year ended to 31 December 2012.

Revenue for the first half of FY2013 was $30.6 million, up 40.0% from $21.9 million in the previous corresponding period.

Underlying Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) which excludes foreign exchange gains and losses, was $9.8 million, up 29.3% from $7.6 million.

Reported NPAT for the half year period was $4.2 million up 19.8% from $3.5 million. Fully diluted earnings per share for the half year period were 5.52 cents v 5.50 cents in the previous corresponding period.

Given the strong result, an interim fully franked dividend of 0.4 cents per ordinary share will be paid on 26 March 2013, with a record date of 12 March 2013.

James Spenceley, CEO of Vocus said: “FY2013 is a transformational investment phase, with significant funds being invested in building strong long term assets. Cash flows are robust and expected to grow over time as Vocus shifts its focus from building infrastructure to the leveraging the assets built.”

“On the basis of the strong results and growing asset base, the Board has decided to start rewarding the shareholders with an initial conservative dividend.”

“Vocus has approximately $13.3m in cash and a signed term sheet for $13m of additional acquisition bank facilities. This will allow the company to continue its organic and inorganic plans, giving the company a strong platform for continued growth.”

Click here to download the ASX Release

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