DCL back on Stock Exchange trading

Data and Commerce Limited, owners of 3MP and SEN (3AK) will resume stock exchange trading tomorrow after the completion of the company’s capital raising. The shares have been suspended since October 2003.

DCL’s number one shareholder is confirmed as Mike Norris’ company Radio Australia Pty Ltd with 18% of issued capital. The company’s second biggest shareholder is rival broadcaster Southern Cross, which owns 14.8% of the shares, just under the allowable maximum amount. Rentamobile also owns about 14%.

Accounts tendered to the ASX show total assets of $11.3 million and total liabilities of $6.5 million.

Projected sales income in the 14 months to June 2005 is $2.9 million, plus an additional $1.1 million in lease fees from SEN.