Swish Group proposes name change

Swish Group (ASX:SWG) is asking shareholders to vote on changing the company's name to AdEffective, to reflect its new focus on online advertising

Digital media company Swish Group (ASX:SWG) has proposed to change its name to AdEffective as it moves to shift its focus to the online advertising market.

In a letter to shareholders, Andrew Plympton said the board has decided on the change in focus following a strategic review.

Swish Group, which emerged from administration in May, has already moved to match executive remuneration with its online advertising growth ambitions.

The company had arranged to buy the internet advertising business of Planet W as a component of the agreement to get it out from administration.

Plympton said Swish's recent acquisitions, which also include music and entertainment websites mp3.com.au, NiceShorts and TheScene, had helped improve 1Q11 sales 12.8% year-on-year.

In September, Swish revealed it had beenworking to re-establish some of its operations prior to its stint in administration, but that it had yet to decide the fate of its remaining businesses.

Shareholders will vote on the rebranding at the company's AGM on 8 December. If the name change takes effect, Swish Group's ASX code would be altered to ABN.

SWG shares have been trading at $0.01 since late July.

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