Projector company slides onto the ASX

Digislide Holdings Limited, a company that specialises in miniature projection technologies for mobile devices, laptops and digital cameras, has become the second South Australian company to list on the ASX in 2009.

Digislide officially joined the ASX yesterday with an issue share price of $1.25 and the compan’y’s CEO, Luceille Outhred was enthusiastic about the news.

“We’re pleased that in the middle of the GFC which has slashed company balanced sheets by 30 to 40 per cent, Digislide has not only survived but thrived and we’ve become just the second South Australian company to list onto the ASX this year, she said.

“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.”

Barry Dawes, managing director of Martin Place Securities, Digislide’s underwriters, commented on the new listing.

“Raising funds within current market conditions is certainly not easy and investors are definitely reluctant to invest in an early stage company,” he said.

“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.”

One of Digislide’s current products on the Australian market is the handheld projector Digishow, which launched in May 2009. According to the company its 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.

“In the next few weeks Digislide will be making several exciting new announcements and we’re confident the share price will reflect our true position and potential,” said Outhred.

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