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| Subject: Re: Equity accounting rules.PCL 47.1% 30/6/2001 to 30/6/2002 reported 12/9 audited 1/10 | |
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Author: card.etc AG |
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Date Posted: Saturday, May 26, 08:06:49pm In reply to: If more than 50% is owned credit is taken for all the profits 's message, "Equity accounting rules.PCL 47.1% 30/6/2001 to 30/6/2002 reported 12/9 audited 1/10" on Tuesday, December 31, 10:57:28pm This is a version of http://www.erggroup.com/news/mediarel/mediadisplay.cfm?MediaRelease=111 as it looked when our crawler examined the site on 16/02/2007. The page you see below is the version in our index that was used to rank this page in the results to your recent query. This is not necessarily the most recent version of the page - to see the most recent version of this page, visit the page on the web. Live.com is not affiliated with the content nor parties responsible for the page displayed below. Details -------------------------------------------------------------------------------- Date Of Media Release 29/06/2000 Title ERG takes Investment in Powerful German Smart Card Company Contact Melissa Frost Phone +61 8 9273 1879 Fax +61 8 9273 1208 Email mfrost@erggroup.com Division ERG Card Systems -------------------------------------------------------------------------------- ERG takes Investment in Powerful German Smart Card Company ERG was invited to acquire a shareholding in card.etc AG with Landys & Gyr Communications, ACG Aktiengesellschaft, and VDV (Verband Deutscher Verkehrsbetriebe) – the Association of German Transport Companies. Negotiations are proceeding with other major German corporations which are expected to join card.etc AG as shareholders so that all shareholders will have approximately a 10% holding in the Company. Due to the ongoing negotiations, the value of the Company and share price paid will not be disclosed until these negotiations are completed. ERG’s Chief Executive, Peter Fogarty, has been invited to join the supervisory board of card.etc AG and will be appointed to that Board from 29 June 2000. The company, card.etc AG will be led by Frans Vandepoele, a former executive of American Express, and the Company will provide multi-application smart card processing services to the transit and other commercial sectors across Germany. The company card.etc AG has agreed to work exclusively with the ERG Motorola Alliance in bidding for the full transit project in Berlin where the Alliance recently completed a successful smart card trial. In addition, card.etc AG has agreed to adopt ERG’s advanced MASS (Multi-Application Smartcard Solution) technology which will work with the PayCard technology developed by Deutsche Telekom on terms to be agreed. Peter Fogarty sees the investment in card.etc AG as another important step in ERG and the ERG Motorola Alliance’s global smart card strategy. “The involvement by ERG in this venture with organisations that have large customer bases in Germany, such as Deutsche Telekom and the Association of German Transport Companies, is a tremendous endorsement of ERG’s recognition on the global smart card stage. “With the majority of major transport operators in the UK adopting ERG’s technology, and now adoption of the technology in Germany, ERG is increasing the likelihood of its technology becoming a standard across Europe.” Frans Vandepoele, Chief Executive of card.etc AG, welcomed ERG’s involvement in the Company. “ERG is recognised globally as a leader in smart card system solutions. Its powerful alliance with Motorola and the success they have achieved globally, attracted card.etc AG to ERG. Together I believe we can become the dominant multi-application smart card system provider across Germany.” -END- BACKGROUND INFORMATION ERG Group ERG Group is a world leader in the development and supply of technologically advanced smart card systems and services, automated fare collection products and systems, and telecommunications products and services. The Group provides turnkey solutions to customers, from design and manufacture to supply, installation, commissioning and ongoing service and maintenance. ERG operates globally and has 22 offices in 14 countries. Listed on the Australian Stock Exchange, ERG ranks in the S&P–ASX Top 50 Index and is included in the MSCI (Morgan Stanley Capital International Index). For more information about ERG please visit: www.erggroup.com card.etc AG card.etc AG is a new company founded by Deutsche Telekom Card Services GmbH, ACG Aktiengesellschaft, Landis & Gyr Communications, ERG Group and VDV. The company card.etc’s strategy is to implement advanced microchip applications with an integrated e-purse on its multifunctional PayCard platform. The Company card.etc has already several implementations running in the field of public transport in Germany and will extend that base using ERG’s contactless MASS technology. [ Next Thread | Previous Thread | Next Message | Previous Message ] |