CloudCentral executes reverse takeover to list on ASX

We’ve opted to list on the Australian Stock Exchange via a reverse takeover of Dromana Estate Limited (DMY) (Dromana). This will enable us to raise capital to continue to invest in enhancing our unique Cloud System and expand our sales and marketing presence to complement our multiple data centres across Australia.

Completion of the acquisition will result in a change of company name to CloudCentral Limited and the appointment of two new directors, founder of CloudCentral, Kristoffer Sheather as Managing Director.

Commenting on the listing, Founder of CloudCentral, Kristoffer Sheather said: “With this listing and access to additional funding CloudCentral is well placed to capitalise on the worldwide cloud computing sector that is growing at 36 percent compounded annual growth rate. Additionally a listing provides CloudCentral with ‘currency’ for strategic acquisitions as they present.

“Primarily we are investing in our sales and marketing capabilities with the addition of a number of wholesale business development managers, establishing sales offices in Sydney, Canberra and Melbourne.  New initiatives include additional investment and commitment to security accreditations, additional points of presence, new product development and operations enhancements,” he concluded.

Lead manager for the placement is DJ Carmichael for a pre-acquisition capital raising of $400,000 through the placement of 80,000,000 shares at an issue price of $0.005 per share. The Placement shares will be issued in two tranches.

Founded in late 2010 by Kristoffer Sheather, CloudCentral today is an established cloud computing business providing wholesale Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) services directly to IT solution providers and Software-as-a-Service developers. The cloud services platform is based upon low-cost commodity hardware and purpose built cloud software enabling rapid deployment of new services at low-cost, delivering benefits to IT vendors and their customers. It delivers a business critical Cloud platform with cloud ready management.

CloudCentral is a 100% Australian owned and operated with an existing point-of-presence in four Data Centres in the Australian Capital Territory, New South Wales and Victoria. As an Australian owned and hosted service provider, CloudCentral firmly assures Australian sovereignty of data and fully complies with the revised Australian Privacy Principles set to be released in March 2014.

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