Melbourne, Oct 19, 2007 (ABN Newswire) - Diversified telecommunications services provider M2 Telecommunications Group Limited (ASX: MTU) has added respected ethical funds manager Hunter Hall to its shareholder register. Hunter Hall now holds 8,462,354 MTU shares, representing a 10.8% shareholding in the Company.
Hunter Hall first joined the M2 register on 11 October 2007, following the completion of M2's acquisition of Orion Telecommunications Limited. However, their shareholding has nearly doubled this week with the finalisation of the acquisition of a further 4,631,544 shares, comprised of both on-market and off-market purchases.
Jonathan Rabinovitz, Group Portfolio Manager of Hunter Hall said of the fund's investment in MTU; "As former Orion shareholders, we closely followed the progress of its acquisition by M2 and developed a confidence in the M2 business model, its track-record of sustained bottom-line growth and the high calibre of M2's executive management."
In addition to Hunter Hall, the MTU share register has also been bolstered by the entry of MMC Funds Management and Pengana Capital, following the completion of the Orion acquisition. M2's Managing Director, Vaughan Bowen said of the Company's new institutional shareholders; "All members of the M2 Board are very pleased to have received this show of support from three respected institutional investors. We look forward to mutually worthwhile and ongoing association with Hunter Hall, MMC and Pengana Capital."
M2 Telecommunications Group Limited
Under its M2 Telecom brand, M2 offers a suite of unique bundled telecommunications services and value added offerings targeted principally at the small enterprise market which are distributed through an exclusive trans-Tasman network of sales dealerships and agencies On 28 September 2007 M2 announced that it had completed the acquisition of 100% of ASX listed Orion Telecommunications Limited (ASX: OTL) via a scheme of arrangement. The Orion acquisition is expected to provide an additional $30 million to M2's annual revenue base, lifting M2 Group revenues to nearly $100 million per annum. Orion is expected to deliver upward of a 40 percent increase in M2's Earnings Per Share (EPS).
In addition to its established small enterprise business unit, M2 established a wholesale business in mid 2006, branded M2 Wholesale, following its appointment by Optus as the exclusively endorsed aggregator/enabler of Optus (post-paid) mobile services. The target customers of M2 Wholesale include other telecommunications service providers, Internet Service Providers (ISP's), and aspiring mobile virtual network operators (MVNO's). As a further boost to its wholesale operations, in May 2007 M2 completed the purchase of Australia's largest independent data wholesaling business, Wholesale Communications Group Pty Ltd (WCG).
In July 2007, M2 announced the formation of its M2 Online e-commerce business unit, via the launch of its first dedicated on-line venture, www.simplymobiles.com.au. Simply Mobiles is positioned as the definitive on-line mobile phone discount store, offering brand new "in-the-box" mobile phones from all popular makes and models (Nokia, Sony Ericsson, Motorola, Samsung, LG) at discounted prices. M2's second dedicated on-line venture, Green Mobiles (www.greenmobiles.com.au), was launched in September 2007.
M2 has demonstrated strong growth in both revenue and "bottom line" profit year-on-year for each of the last five years and was named by Business Review Weekly as one of Australia's fastest growing companies in 2003, 2004, 2005 and 2006 and on the Deloitte Technology Fast 50 in 2004 and again in 2005.
M2's balance sheet is free of debt and boasts solid cash reserves. The Company has an established dividend policy, with high yield franked dividends being paid over the last three years.
For more about M2 visit http://www.m2.com.au
Related Company sites:
http://www.oriontelecommunications.com.au
http://www.sctelco.com.au
http://www.wcg.net.au
http://www.simplymobiles.com.au
http://www.greenmobiles.com.a
Hunter Hall first joined the M2 register on 11 October 2007, following the completion of M2's acquisition of Orion Telecommunications Limited. However, their shareholding has nearly doubled this week with the finalisation of the acquisition of a further 4,631,544 shares, comprised of both on-market and off-market purchases.
Jonathan Rabinovitz, Group Portfolio Manager of Hunter Hall said of the fund's investment in MTU; "As former Orion shareholders, we closely followed the progress of its acquisition by M2 and developed a confidence in the M2 business model, its track-record of sustained bottom-line growth and the high calibre of M2's executive management."
In addition to Hunter Hall, the MTU share register has also been bolstered by the entry of MMC Funds Management and Pengana Capital, following the completion of the Orion acquisition. M2's Managing Director, Vaughan Bowen said of the Company's new institutional shareholders; "All members of the M2 Board are very pleased to have received this show of support from three respected institutional investors. We look forward to mutually worthwhile and ongoing association with Hunter Hall, MMC and Pengana Capital."
M2 Telecommunications Group Limited
Under its M2 Telecom brand, M2 offers a suite of unique bundled telecommunications services and value added offerings targeted principally at the small enterprise market which are distributed through an exclusive trans-Tasman network of sales dealerships and agencies On 28 September 2007 M2 announced that it had completed the acquisition of 100% of ASX listed Orion Telecommunications Limited (ASX: OTL) via a scheme of arrangement. The Orion acquisition is expected to provide an additional $30 million to M2's annual revenue base, lifting M2 Group revenues to nearly $100 million per annum. Orion is expected to deliver upward of a 40 percent increase in M2's Earnings Per Share (EPS).
In addition to its established small enterprise business unit, M2 established a wholesale business in mid 2006, branded M2 Wholesale, following its appointment by Optus as the exclusively endorsed aggregator/enabler of Optus (post-paid) mobile services. The target customers of M2 Wholesale include other telecommunications service providers, Internet Service Providers (ISP's), and aspiring mobile virtual network operators (MVNO's). As a further boost to its wholesale operations, in May 2007 M2 completed the purchase of Australia's largest independent data wholesaling business, Wholesale Communications Group Pty Ltd (WCG).
In July 2007, M2 announced the formation of its M2 Online e-commerce business unit, via the launch of its first dedicated on-line venture, www.simplymobiles.com.au. Simply Mobiles is positioned as the definitive on-line mobile phone discount store, offering brand new "in-the-box" mobile phones from all popular makes and models (Nokia, Sony Ericsson, Motorola, Samsung, LG) at discounted prices. M2's second dedicated on-line venture, Green Mobiles (www.greenmobiles.com.au), was launched in September 2007.
M2 has demonstrated strong growth in both revenue and "bottom line" profit year-on-year for each of the last five years and was named by Business Review Weekly as one of Australia's fastest growing companies in 2003, 2004, 2005 and 2006 and on the Deloitte Technology Fast 50 in 2004 and again in 2005.
M2's balance sheet is free of debt and boasts solid cash reserves. The Company has an established dividend policy, with high yield franked dividends being paid over the last three years.
For more about M2 visit http://www.m2.com.au
Related Company sites:
http://www.oriontelecommunications.com.au
http://www.sctelco.com.au
http://www.wcg.net.au
http://www.simplymobiles.com.au
http://www.greenmobiles.com.a
About M2 Telecommunications Group Limited
Established in 1999, M2 Telecommunications Group Limited (ASX:MTU) is Australia's largest network independent provider of fixed-line, mobile and data telecommunications services. M2 is head-quartered in Melbourne and employs approximately 160 people nationwide. M2 also provides fixed-line and 3G mobile services in New Zealand.
Within its "M2 Telecom" business division, M2 offers a suite of unique bundled telecommunications services and value added offerings targeted principally at the small enterprise market, distributed through an exclusive trans-Tasman network of sales dealerships, agencies and through targeted on-line marketing ventures (www.simplymobiles.com.au and www.greenmobiles.com.au). M2 Telecom also incorporates Southern Cross Telco, an established retail and small enterprise targeted telco, acquired by M2 in October 2007.
"M2 Wholesale" is the other core business division of M2, in which wholesale telecommunications services are supplied to small and medium sized telecommunications service providers and Internet Service Providers (ISP's). M2 Wholesale was launched in mid 2006 following M2's appointment by Optus as its exclusively endorsed aggregator/enabler of Optus mobile services. As a further boost to its wholesale operations, in May 2007 M2 completed the purchase of Australia's largest independent data wholesaling business, Wholesale Communications Group Pty Ltd (WCG), followed by the acquisition of Commander Communication's established wholesale network services company, Unitel Australia Pty Ltd in February 2008.
M2's consolidated revenues now exceed A$160 million (annualised), approximately evenly shared between M2 Telecom and M2 Wholesale. On the basis of the successful completion of M2's acquisition of People Telecom Limited (ASX:PEO) in mid April 2009, annualised group revenues are expected to surpass A$250 million.
M2 has a proven track-record of
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