an agreement with micro-chip manufacturer STMicroelectronics (ST) for the sale of ERG's 100% interest in Belgian-based Proton World (PW).Pursuant to the transaction, ST will grant ERG global rights to use the Proton technologies in ERG's transit smart card systems for 20 years through a licence agreementIn addition, ERG will retain exclusive access to a short-list of nominated transit customers for a five-year term.. -- Anonymous

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Subject: an agreement with micro-chip manufacturer STMicroelectronics (ST) for the sale of ERG's 100% interest in Belgian-based Proton World (PW).Pursuant to the transaction, ST will grant ERG global rights to use the Proton technologies in ERG's transit smart card systems for 20 years through a licence agreementIn addition, ERG will retain exclusive access to a short-list of nominated transit customers for a five-year term..

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Under the terms of the agreement, ERG will sell all its shares in PWI to ST for a consideration of approximately A$110 million (e60million).

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Date Posted: Tuesday, April 08, 01:45:23pm
In reply to: 's message, "" on Tuesday, April 08, 04:10:35am

an agreement with micro-chip manufacturer STMicroelectronics (ST) for the sale of ERG's 100% interest in Belgian-based Proton World (PW).Pursuant to the transaction, ST will grant ERG global rights to use the Proton technologies in ERG's transit smart card systems for 20 years through a licence agreement. In addition, ERG will retain exclusive access to a short-list of nominated transit customers for a five-year term. Under the terms of the agreement, ERG will sell all its shares in PWI to ST for a consideration of approximately A$110 million (e60million).

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Subject	Author	Date
After settlement of all inter-company accounts and payments for the global rights to the Proton technology, ERG will receive cash proceeds of approximately approximately63m to ERG Group after repayment of intercompany loans (e37 million) at settlement.	A milestone fee of approximately A$40.9 million (e22.5 million) is payable to ERG on deferred terms tied to milestones over the next ten years.	Tuesday, April 08, 01:49:21pm