You may have heard the buzz that Swoop Telecommunications is to be publicly listed on the ASX. We’re very excited about this, because it means we’ll be raising funds for the expansion of our services and network, including our flagship residential service, Acceler8ed Broadband.
This change doesn’t affect our day-to-day operations, management team, Warragul-based support desk or pricing. It just puts Swoop on the ASX, and furthers our plans to expand our network into more and more areas. Watch this space for further developments over the next few months.
Tattarang, Vocus and Amcom Founders to list Swoop Telecommunications
Thursday 18 February 2021
Australian fixed wireless and wholesale network infrastructure carrier backed by Tattarang, James Spenceley and Tony Grist; Swoop Telecommunications announce plans for listing on the ASX in April.
In an announcement to the ASX this morning, Stemify Limited (ASX:SF1) confirmed it has conditionally agreed to acquire 100% of Swoop Telecommunications and NodeOne, in a deal worth $61.3 million. The combined national telco plans to relist in late April, under the name ‘Swoop Holdings Limited’ with ASX Code SWP.
The listing will seek to raise $20m AUD at an issue price of $0.50 per share with Morgans Corporate Limited appointed as lead manager to the public offer.
Funds from the capital raising will enable Swoop to further expand its infrastructure nationally and provide funding for potential acquisitions to grow its products and offerings to customers. The proposed board will comprise of Spenceley as chairman as well as telco industry veterans, including Amcom founder Tony Grist and Pipe Networks, Vocus and Superloop alumnus Matt Hollis.
Speaking of the upcoming listing, CEO of Swoop, Alex West said; “This is an extremely exciting time in the telecommunications industry and this listing will enable us to capture more of the market, expand our offering and allow us to provide more services to customers across Australia.”
Speaking about the proposed listing, Chairman of Swoop James Spenceley states; “After a few years away from the Telco Industry, it is great to be back and be back at a time where there is so much opportunity. Additionally, to be backed by one of Australia’s richest men and have an ever-growing team of high calibre Industry veterans in the business, makes this a very exciting journey ahead.”
Talking upcoming listing NodeOne CEO Richard Whitling states. “Joining forces with Swoop, a highly-respected Australian telco with an experienced board and management team, will enable us to expand our expertise and deliver an even better Internet service to Western Australia. NodeOne will continue to operate under its current brand in the WA market leveraging the work already done in building one of WA’s favourite telcos.”
The transaction is subject to Stemify shareholder approval, with the meeting scheduled to take place on 6th April. Swoop, formally known as Cirrus Communications was one of the earliest fixed wireless operators in Australia. Founded in 2004 the business operates one of the largest fixed wireless networks with 220 towers across all mainland states and 110 staff. NodeOne was founded in Geraldton in 2009, and has been at the forefront of internet and fixed
wireless technology in Western Australia, introducing high speed fixed wireless and NBN services to a broad customer base.
Timeline to relist
- Notice of Meeting for the Acquisitions sent to SF1 Shareholders 3 March 2021
- Opening date of Public Offer 17 March 2021
- SF1 Shareholder Meeting to approve the Acquisitions, Consolidation and Public Offer 6 April 2021
- Closing date of Public Offer 9 April 2021
- Re-quotation on the ASX 22 April 2021
Notes to editors
For further information, interviews and images please contact:
Ashleigh Roberts, The PR Hub
p: 0491 346 118 e: [email protected]
Available for interview
- James Spencely, Chairman of Swoop
- Alex West, CEO of Swoop
- Richard Whiting, CEO of NodeOne
About Swoop Broadband
Swoop is predominantly a fixed wireless and wholesale network infrastructure carrier with a high performance national and international network that is an alternative provider to the large carriers for delivering services in Australia. Swoop operates under three brands; Swoop Wholesale, Swoop Business and Swoop Broadband.
About NodeOne
NodeOne is Western Australia’s largest locally owned internet service provider and has more than a decade of experience delivering high quality, high speed internet to Western Australian homes and businesses. NodeOne’s network covers the Perth metropolitan area as well as Geraldton and the Midwest, and the greater Bunbury region. NodeOne now has more than 60 fixed wireless points of presence, providing network coverage to over 2 million people