Cabcharge Australia Limited has now become âA2B Australia Limitedâ with ASX code A2B. Trading under the new name for the very first time on Australian Securities Exchange, A2B stock has witnessed the bullish market sentiments today, 30 November 2018. The stock price edged up 0.457% to last trade at $2.200.
These upside trends in daily price change underscores the investorsâ support to companyâs strategic move of corporate name change. In 2018 Annual Report, the company first indicated its decision to incorporate change in the companyâs name as it believes the new corporate name âA2B Australia Limitedâ will better reflect the scope and nature of activities undertaken by the company.Â
At the companyâs Annual General Meeting held on 22 November 2018, the shareholders voted in favor of companyâs new name. Subsequently, with as high as 99.25% votes the company passed the resolution for change of companyâs name which was later certified and registered by Australian Securities and Investments Commission.
Managing Director and CEO of A2B Australia Limited (ASX: A2B), Andrew Skelton said âThe new name more accurately reflects the evolving scope and nature of our business. A2B will house our strengthening portfolio of customer-facing brands such as 13cabs, Cabcharge Payments, Silver Service and Mobile Technologies International.â
He added that A2Bâs core strategy is to support taxi industry Australia. He added in the last 40 years, A2B has made significant contribution in enhancing the way the commuters pay for and engage with personal transport.
âRe-establishing companyâs corporate identity is just the beginning,â said Mr. Andrew Skelton.
The company plans to inject funds in the technology creation and advancement that can equip the operators, drivers, and networks to cater the passengers better than their expectations.
Further, in Fiscal 2018, companyâs taxi provision business 13cabs launched a fresh new brand identity which as per companyâs view better reflects its personality and commitment to connecting people through a nationally recognized network.
Companyâs strategy of building strong brand and share class leading technology has enticed the investors in the market as its stock price can be seen trading at higher levels which outlines the massive stock price rise of 35.19% over the past one year.