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| Subject: Re: The technological benefits of the Proton acquisition ratified 28/11 | |
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Author: anonymous |
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Date Posted: 23:34:46 11/24/02 Sun In reply to: anonymous 's message, "Re: The technological benefits of the Proton acquisition ratified 28/11" on 15:36:42 11/24/02 Sun ERG accounts ------------------------------------------------------------ Additional to the technological benefits flowing through to ERG from Proton is a number of cost and interest savings that occurred post June 30th. The prior financial period is June 30th 2001 to June 30th 2002---as reported on the 12/9 with a completed audit done by Price Waterhouse Coopers on the 1/10. (change of auditor planned Deloite--re Ecard) ----------------------------------------------------------- Interest savings from the conversion of notes are added back and help improve the company's bottom line. ERG has and is converting a lot of short term high interest debt into longer term low interest scenario. ----------------------------------------------------------- Melbourne Scopes Creep Claim. ----------------------------------------------------------- 25 mill was paid immediately on the 30/5/2002 Media Release: ERG announces Melbourne Settlement (2 parts) ---------------------------------------------------------- Another 20 million was paid within ten days of the 25/10/2002---the significance of the announcement was that the customer had legally agreed that OneLink had improved it's performance---this gets ratified on the 28/11. (flowing from that ofcourse an incentive package over 5 years---for instance if ERG and 100% owned subsidiary OneLinlk Transit were to retrofit Melbourne---this would make the contract worth another 300 mill---and would in estimation save the customer time and money too. (ie contactless smartcard.) ----------------------------------------------------------- 25th Signs Melbourne Settlement Contracts ----------------------------------------------------------- [ Next Thread | Previous Thread | Next Message | Previous Message ] |