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| Sunday, May 17, 09:18:16pm | [ 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: Everett Transit is considering whether to participateSeattle | |
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Author: Proton sale expected to be settled April 03 |
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Date Posted: Friday, April 11, 03:55:17am In reply to: done on the 20th to the 21/3/03. 's message, "Fresher ERG calendar" on Thursday, March 20, 05:41:57am Important dates for ERG coming up---The Proton sale was announced on the 26/3/2003--it is expected to be settled this month. The bonding arrangements that ERG have announced on the 3/4/2003 relate to arrangements made for Seattle, Stockholm and Washington DC. These arrangements are conditional on shareholders voting yes to the recap proposal---April 21st relates to a deed that has to be executed--noteholders--all the legal jazz. In other words in a valuation sense--once the yes vote comes in---you can start adding the positive contributions that the above 3 contracts that relate to EFIC to eps. The next thing coming up other than the restructure in Translink phase 2 (San Francisco)--which is expected to be no later than end of May--got a feeling though it may come sooner than that--for a lot of net research points in that direction---this is as already mentioned--a "biggin" ------------------------- "EFIC to provide A$25.6 M in Proj Performance Bonds to ERG" ERG owns the technology that is licenced to Creative Star for use exclusively and only in Hong Kong---Creative Star is now known as Octopus Brussels, 9 November 1998 Proton state that Creative Star and ERG are joint venture partners, in Toronto both ERG and Creative Star are working together on the MTE's phase1. Octopus Cards has formed a consortium with Accenture, Thales and MTRC who are bidding with Cubic for the Netherlands whole of country contract.Proton has been adopted by Dutch banks universal Smartcard platform.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). 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. The milestones relate to the sale to ERG or its customers of smart cards that incorporate an ST chip.Settlement of the transaction is expected during April.The agreement is expected to be conditional on the revision and, in some cases,termination of certain licence agreements between PWI and certain ERG subsidiaries, the transfer of ERG'S 50% shareholding in Triumphant Launch to PWl and there being no change in the key employees of PWl before completion. A provision ahead of the sale announced on the 26/3/2003 was made for 52.4 million dollars for account period 30/6/2002 to the 31/12/02 as reported the 6/3/03. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Revision to Seattle from Lost he is now estimating by end of April--Seattle (NT) http://www.voy.com/132886/ up todate on this scratchpad 10:38:08 02/22/03 Sat (NT) | http://www.voy.com/128504/ | Friday, April 11, 04:00:03am |