Athlone Investments Limited

Athlone Investments Limited

March 25, 2015 12:10 ET

Athlone Closes $2M Funding Round and Announces New Name and Ticker

TEL AVIV, ISRAEL and MAPUTO, MOZAMBIQUE--(Marketwired - March 25, 2015) - Athlone Investments Limited ("Athlone", "APIO" or the "Company") (TASE:ATLN)(IT:ATLN) announced today that it has closed its first funding round via prospectus which raised US$2 million in new equity for the company.

This capital will be used to finalize the build of the first phase of the data centre in Maputo by its subsidiary Vaninga & Investimentos Limitada and to begin the second phase.

During the last 3 months Vaninga has transformed the site, which is leased from the incumbent national operator Telecomunicações de Moçambique (TDM), into a world class facility with all civil work complete, including state of the art access control required for a world class data centre.

Vaninga has taken delivery of the first pre-fabricated modules of the data centre, from Telenetix, a South African based data centre supplier that specializes in modular data centres and power solutions with customers across Africa. The Company believes that the initial data centre will be operational at the end of April 2015.

The Company also stated that the application for name change had been accepted by the Israeli regulatory authorities and will henceforth be called APIO (Africa) Ltd and will trade under the ticker APIO.

APIO plans to move beyond the traditional data centre model of providing hosting and co-location by adding suites of virtual and storage servers and offering Cloud and Virtualization services. There is a dearth of data centre supply in Mozambique (and Africa generally) and the company wishes to capitalize on this market opportunity which it believes will grow as smart phones replace second generation mobile phones and the appetite in Africa for data services, such as video and audio streaming, matches global trends. The other drivers of growth will be demographic factors such as urbanization, high population growth rates and a growing young population, as well as increased global investment in Africa. Economic growth rates in Africa are expected to be the highest in the World over the next decade.

APIO has ambitions to move beyond Mozambique next year once it has established operations there and is already exploring opportunities in a number of Sub-Saharan African countries.

About Athlone Investments Limited (APIO)

Athlone's subsidiary Vaninga & Investimentos Limitada is a Mozambican telecommunications operator licensed to provide a full range of fixed and wireless services nationally. It focuses on the provision of carrier neutral data centre services which are in very short supply in Mozambique and in Sub Saharan Africa generally.

In addition to traditional data centre services such as hosting and co-location, Vaninga plans to provide a range of Cloud based services such as Platform as a Service and Infrastructure as a Service, virtual servers, secure storage and media streaming. Its customers include banks, telecommunications operators, Government, SME's and consumers.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Israeli securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's business model. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; and other risks of the industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information

  • Athlone Investments Limited (APIO)
    Ross Macdonald

    Athlone Investments Limited (APIO)
    Gordon Edwards