Show your support by donating any amount. (Note: We are still technically a for-profit company, so your
contribution is not tax-deductible.)
PayPal Acct: 
Feedback: 
Donate to VoyForums (PayPal):
| [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, 6, 7, 8, 9, [10] ] |
| Subject: The 15/11/2002 will make 1 year exactly from books closing date Rights 15/11/2001 | |
|
Author: anonymous |
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
Date Posted: 23:54:31 10/13/02 Sun The 15/11/2002 will make one year exactly following the books closing date for rights issue 15/11/2001. ------------------------------------------------------------ ERG ERG Ltd (01/11/00) ERG LIMITED 2001-10-31 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ MEDIA RELEASE ERG ENTERS HIGH SECURITY, FINANCIAL SERVICES MARKET BACKED BY AMEX, VISA AND EUROPEAN BANKS AND ANNOUNCES RIGHTS ISSUE The ERG Group today announced the full acquisition of Belgian based Proton World international SA (Proton World), the leading, global, high security, payment and identity smart card technology company. To fund the acquisition, and to strengthen its balance sheet, ERG also announced a fully underwritten $104 million renounceable rights issue. The sale agreements call for long-term (5-7 year) service level agreements to be executed by American Express, Banksys and Interpay Nederland. The contracts are expected to generate revenue in excess of A$200 million. A separate media release relating to the acquisition of Proton World has been released with this announcement. The key benefits of the acquisition to ERG are: * the Proton technology complements the systems ERG provides to its transit customers; * financial services and banking sector expertise; * access to the highest standards of smart card security; * diversity of product offerings to the multi-application smart card industry; * research and development and operational synergies and efficiencies; and * a wealth of management experience drawing on skill bases in the financial sector, transaction processing and security arenas. The rights issue, which is fully underwritten by Salomon Smith Barney, will entitle ERG shareholders to subscribe for 3 new shares for every 10 shares held at an issue price of 50 cents per share. Listed convertible noteholders are also eligible to participate in the issue. The rights issue is renounceable, and rights trading will commence on 9 November 2001 and close on 4 December 2001. All shareholders and listed convertible noteholders in ERG as at 15 November 2001 will be eligible to participate in the rights issue. American Express, Banksys, Interpay Nederland and Visa International will not be eligible to participate in the rights issue. A prospectus for the rights issue will be lodged with the Australian Securities and Investments Commission on 31 October 2001. ERG's chief executive, Mr Peter Fogarty, said the rights issue and full acquisition of Proton World would significantly enhance ERG's balance sheet. "The acquisition positions ERG as a 'one stop shop' for all smart card systems and application requirements for the combined groups' collective customers. The transaction significantly expands our customer base throughout the banking and financial services sectors and gives us access to the fast growing security and identity markets. "We welcome more than 500 banking customers that have deployed the Proton technology to add to our worldwide transit client base." MORE TO FOLLOW ERG LIMITED 2002-09-12 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ MEDIA RELEASE ERG Group today announced that the holders of its unlisted convertible notes have agreed to convert some or all of their holdings into ERG ordinary shares. The effect of the conversion is to reduce ERG's liability on maturity of these notes from the $22.8 million face value to the extent that the notes are converted. ERG originally issued 18,178,989 8% convertible notes at $1.65 to Motorola Inc on 16 October 1997, with a maturity date of 15 October 2002. During the term of these notes, Motorola converted 4,350,000 notes into ordinary shares and sold a further 8,000,000 notes to two financial institutions. As a result there are now 13,828,989 notes on issue, of which Motorola holds 5,828,989. The two financial institutions and Motorola have agreed to convert theirholdings into ordinary shares in certain circumstances and the date for conversion has been extended to 15 November 2002. The notes are convertible at the rate of one note for three ordinary shares, providing an effective share conversion price of $0.55. If all notes are converted, ERG will issue 41,486,967 new ordinary shares to the three convertible noteholders. The noteholders will be entitled to a payment from ERG based on the difference between $0.55 and the sale priceof ERG's shares. Any notes not converted will be redeemed on or before 15 November 2002 (or such later date as is agreed between the holder and ERG). ERG will issue a disclosure notice and reliance notice under ASIC Class Order 02/272 upon conversion of any of the Notes to enable the resale of the shares issued upon conversion. C Barrett-Lennard COMPANY SECRETARY For further information, please contact: Shaun Duffy GENERAL MANAGER INVESTOR RELATIONS Ph: +61 8 9273 1879 Email: sduffy@erggroup.com [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Proton goes from associated entity to controlled entity ERG's nta rises March 2003 | anonymous | 01:15:09 10/14/02 Mon |
|
||