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Digislide projects a strong image on the ASX

24 August, 2009

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Digislide Holdings Limited (DGI) becomes the second South Australian company to list on the ASX in 2009

Despite an 18 month drought for companies wanting to access capital through IPO listings on the stock exchange, Adelaide based technology company, Digislide Holdings Limited (DGI) has realised a ten year dream and become just the second South Australian company to list on the Australian Securities Exchange this year.

The company, which specialises in the development and commercialisation of miniature projection technologies for mobile devices such as smartphones, laptops and digital cameras, officially joined the ASX lists today with an issue share price of $1.25.

Digislide’s CEO, Luceille Outhred was greeted by the news in Singapore, having just been awarded the “Frost & Sullivan Asia Pacific Technology Innovator Of The Year for Handheld Projection Technologies”.

“Whilst the market has risen from the March lows, any company listing now needs an excellent track record and a tenacious management team leading the way with an aggressive strategic plan, ,” Ms Outhred said.

 The company raised well in excess of the minimum $3 million needed in the IPO to take several miniature projectors to market.

“Ten years ago our early local investors backed the company because of the exciting technologies being developed out of South Australia. Recently, investors have seen the potential of burgeoning international markets and potential for return on investment,” Luceille said.

One of Digislide’s current products on the Australian market is the easy-to-use handheld projector Digishow, which launched in May 2009. Early sales for the projector have been strong and it will be followed by a companion projector, DigiPro which will be pitched at the business market, and available by the end of the year.

Barry Dawes, Managing Director of Martin Place Securities, Digislide’s underwriters, added, “Raising funds within current market conditions is certainly not easy and investors are definitely reluctant to invest in an early expansion stage company.”

“However, in the case of Digislide, it was clear to both institutional and private investors that the company offers a unique opportunity to share in a truly global technology with rapid acceptance. Another positive was Digislide’s assessment that the market would provide strong demand for projector products and provide attractive revenues,” Mr Dawes said.

Whilst the entire Digislide team and investors are celebrating the successful listing, they’re also aware of the challenges still to come.

Ms Outhred added, “You can’t let fears dominate actions. You have to be cognisant of the economic climate and build in additional risk management strategies, but you can’t let the economic conditions cripple ingenuity. Building the right team and underpinning ongoing commercial operations is vital.” 

“Companies who cut back in tough times go backwards and it’s the ones who stretch to remain positioned on the top of the wave that get propelled forward.”

“For sometime now, our focus has been on securing future shareholder returns by concentrating on generating revenue throughout key markets of Australia, Asia, Europe and America. These will be brought about through the ongoing development of alliances and joint partnerships and bringing the best possible miniature projection technologies to market.”

“Technology has a high churn rate and we have great tools for business and the latest toys for pleasure,” Ms Outhred said.

For interviews and images please call Cameron Donovan, Espresso Communications on +61 408 662 007.

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