Ixchange to become FrontRange in mid-January

By Iain Scott, ITWeb group consulting editor

Johannesburg, 14 Dec 2001

Ixchange Technology Holdings is to be renamed FrontRange Limited on 14 January next year.

The change follows the group shedding its interests in the Ability division and start-up companies Draxion and Neuratech, leaving it with its 84% stake in US-based FrontRange Solutions as its only remaining interest.

Dana Buys will remain MD of the listed company, with Christo Nel, the head of the Centre for Leadership Studies at the University of Stellenbosch`s business school, taking over as non-executive chairman.

The group recently announced the appointment of Patrick Butlema to head FrontRange Solutions.

"These changes come after a good deal of hard work over the past year to ensure that the organisation is robust and positioned to do well in tough conditions," says Buys.

"We have in place a strong board, an excellent management team, and a strategy that is being received well by independent industry analysts."

He adds that FrontRange remains determined to pursue sustainable profitable growth by the second half-year to June 2002.

The share will trade under the abbreviated name "Frontrnge", and the JSE clearing house name will be FRO.

The Ixchange share price was unchanged at 115c on the JSE this morning.