TZ Limited Substantial Shareholder Increases Stake To 7.34%

Dec. 05, 2013 5:20 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short Only

Contributor Since 2009

Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

TZ Limited (ASX: TZL) substantial shareholder Technical Investing Pty Ltd has increased its stake in the company to 7.34% from 6.05%.

The fund manager had on 4 December 2013 acquired an additional 4,000,407 shares on the market for $441,012, or $0.11 per share, before selling 1 million shares for $110,000 the next day.

The overall increase of 3,000,407 shares brought its total shareholding in TZ up to 16,393,711.

It had in November exercised 5 million listed options to become a substantial shareholder in the company.

TZ had recently entered into formal agreements with major convertible note holder, QVT Fund LP and Quintessence Fund, that will result in the company being free of debt and interest payments.

The company has also revealed it had made a strong start towards achieving its forecast financial year 2014 revenue of $8 million with revenue of $1.1 million in the September 2013 quarter about 17% higher than previous guidance.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.