Close of Prospectus Offer
Xped Limited advises that the Prospectus dated 16 December 2016 has been officially closed.
As announced on 25 January 2017, the Company raised a total of $3,118,800 pursuant to its SPP with the ability to place the SPP Shortfall with investors until mid-April 2017.
In closing the Prospectus, the company will no longer be placing any SPP shortfall.
Business Development & Engineering
Xped advises that it will be dispatching 3 Engineering Staff, and 2 consultants to Shenzhen Lenze next week alongside senior management from both Telink and Xped. The purpose of this trip is to finalize modifications requested by Lenze to make the Xped app more appealing to the Chinese market. Lenze has agreed to use the Xped app for its new "Bluetooth I-Charger" device and as announce previously, a royalty bearing license agreement is in place.
Current sales for the "Bluetooth I-Charger" are consistently tracking in excess of 2 million units per month. It is anticipated that downloads of the Xped/Lenze app in China will begin slowly and increase as more of Lenze's device are made controllable through the app. Further updates to the market will occur in due course.
Trading in Securities
Xped is not aware of any unannounced company information that, if known by some in the market, could explain the recent trading in securities.
Xped has sought advice from its ASX advisors regarding the issue of "bot trading" of the stock, and has been advised that this is allowed by the ASX and is legal as long as it complies with relevant ASIC market integrity rules and the Corporations Act.
About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things ("IoT") technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. It's as simple as two people shaking hands. By enabling the Internet of Things, Xped's ADRC platform will bring benefit to Manufacturers, Retailers, Service Providers, and Consumers.