Ixchange was renamed FrontRange yesterday, marking the end of a period of realignment in which it disposed of its operating subsidiaries, except its 84% shareholding in US-based FrontRange Solutions.
The company`s share began trading under the abbreviated name "Frontrnge" on the JSE yesterday, with the JSE clearing house name changed to FRO.
Ixchange now owns its FrontRange Solutions stake and a residual holding of 25% of Fraxion, an electronic authorisation tool it plans to integrate with HEAT, FrontRange`s service and support solution.
Dana Buys remains MD of the listed holding company, with Christo Nel, head of the Centre for Leadership Studies at the University of Stellenbosch Business School, as non-executive chairman.
Buys has said that FrontRange is determined to pursue sustainable profitable growth by the second half-year to June 2002.
The FrontRange share closed unchanged at 90c yesterday.
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