Menu
Fronde to leave Unlisted share trading platform

Fronde to leave Unlisted share trading platform

Cost cutting and investment in IP cited as drivers as few shares change hands

Fronde plans to delist from Unlisted

Fronde plans to delist from Unlisted

Fronde Systems Group has given notice that it is going to de-list from the alternative Unlisted trading platform in January.

“Over the past few years we have not seen a high level of trading activity in Fronde shares through the Unlisted market," said Emma Watson, chief operating officer of Fronde. "Our participation in the market adds compliance costs for the company, on top of the listing fees.

"At this time, we are prioritising investment in the development of IP and growing our premium consulting services."

Fronde said it is focused on transforming the business and investing in premium consulting services as well as to deliver tangible business outcomes for customers.

The business has given notice to Unlisted and expects the delisting to take effect by Tuesday 22 January. There are no plans for alternative share trading arrangements at this time.

In June Fronde reported flat revenue growth at around $50 million year-on-year but a 26 per cent increase in net profit.

Furthermore, CEO Anthony Belsham left the company at the end of November to become CEO of Fisher & Paykel Technologies - he has not yet been replaced.

A spokesperson said an executive search is under way in New Zealand and in Australia and is on track with "several promising candidates".

Meanwhile, the executive leadership team is collectively taking on ownership of CEO tasks and responsibilities.

A Salesforce, Netsuite and Google partner, Fronde is based in Wellington with offices in Auckland, Sydney, Melbourne, the Gold Coast and Manila.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags GooglesalesforcenetsuiteunlistedFronde Systems Group

Featured

Slideshows

Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Upcoming tech talent share insights at inaugural Emerging Leaders Forum 2019

Upcoming tech talent share insights at inaugural Emerging Leaders Forum 2019

The channel came together for the inaugural Reseller News Emerging Leaders Forum in New Zealand, created to provide a program that identifies, educates and showcases the upcoming talent of the ICT industry. Hosted as a half day event, attendees heard from industry champions as keynoters and panelists talked about future opportunities and leadership paths and joined mentoring sessions with members of the ICT industry Hall of Fame. The forum concluded with 30 Under 30 Tech Awards across areas of Sales, Entrepreneur, Marketing, Management, Technical and Human Resources. Photos by Gino Demeer.

Upcoming tech talent share insights at inaugural Emerging Leaders Forum 2019
Show Comments