As tipped by SmartHouse News 3 months ago ICE TV will today float on the Australian stock Exchange today when they issue 4,000 shares in an effort to raise $,4,000,000.
The Company will use the money to further expand their IPTV remote program guide offering. In Australia ICE TV is the only Company that offers a remote program guide for media centres after Microsoft caved in to free to air TV stations and chose not to launch an RPG in Australia.
IceTV’s core revenue comes from offering an on-screen guide and ‘point and click’ recording functionality, which third party builders of media centres in Australia are bundling with their systems in Australia. Among the Companies IceTV partner with are Optima, Topfield, Altech, Pioneer Computing, Claritas, Enspire Digital, Media Portal, SageTV, MediaStar and Toshiba. IceTV’s service is similar to TiVo, which has over 4 million subscribers in the US. While cable TV dominates the US market, IceTV has set its sights on the much larger free-to-air market which accounts for 75% of Australian households.
During the past 12 months IceTV has partnered with a number of manufacturers* to integrate its service into the media centers and digital video recorders (DVRs) that are replacing video recorders and transforming how people watch television. CEO Duncan Ross said: “IceTV fundamentally changes the way people watch TV. The family dynamic in my home has been transformed since we moved from watching TV on the network’s timetable to watching our favourite shows when it suits us.”
IceTV customers experience the life-changing benefits of:
· Point-and-click recording
· Recording more than one program at a time
· Time-shifting – start watching a program from the beginning, while it is still recording
· Pausing live TV – stop live TV while you answer the phone, or make a cup of coffee
· Ad skipping – fast forward through ads when watching recorded shows
“Listing is an exciting and important step in IceTV’s development.” Mr Ross said. “Attracting investors through the share offer will enable us to push forward with developing a range of exciting new services that will enable our subscribers to take even greater control of their TV viewing.” The share offer closes on 25 May. Further details on IceTV and a copy of the prospectus can be downloaded from the company’s website, www.icetv.com.au. Applications for shares can also be made online. IceTV is currently developing a number of services that will enhance its EPG and take advantage of the growth in demand for digital entertainment. In January it signed an agreement with online home entertainment company, Quickflix, which will give IceTV subscribers the opportunity to buy or rent DVDs through their electronic program guide.
About The Listing
· It is an initial public offering of up to 8,000,000 new shares at an offer price of 50 cents each, with one for two Attaching Options.
· The minimum share purchase is 4,000 shares for $2,000.
· Offer closes 25 May 2006
· The market capitalisation of IceTV upon listing is expected to be $10 million (including oversubscriptions)
· Full details of the listing are available in the prospectus, available through IceTV’s website, www.icetv.com.au