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| Monday, May 18, 06:11:51am | [ 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: ERG Completes Proton Sale and Appoints Independent Non-ExecutiveDirectorERG Group (ERG) today announced that the sale of Proton World toSTMicroelectronics of Switzerland on the terms announced in March 2003Following completion of the sale of Proton, ERG discharged debts of Euro5.25 million(A$9.8 million) to European banksERG will also pay out in full itsfacility with Babcock and Brown.. | |
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Author: remaining cash applied Company's smart card ticketing core busi.Transfield ServicesDirector/ADI Limited & the NSW State Transit AuthorityVice President of OzCouncil for Infrastructure Development.. |
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Date Posted: Monday, April 28, 11:12:35am In reply to: Transurban ERG alliance agreement May 2001 (NRMA-1 week before) 's message, "Recent deveopments behind e-Tag--ERG SMH 18/1/03--Official launch 20/1/03" on Saturday, January 18, 09:14:58pm ERG Completes Proton Sale and Appoints Independent Non-Executive Director ERG Group (ERG) today announced that the sale of Proton World to STMicroelectronics of Switzerland on the terms announced in March 2003 has been completed, with some proceeds applied to the reduction of ERG debt. Following completion of the sale of Proton, ERG discharged debts of Euro 5.25 million (A$9.8 million) to European banks. ERG will also pay out in full its facility with Babcock and Brown. The remaining cash will be applied to the Company's smart card ticketing core business. ERG also announced that Mr Tony Shepherd has consented to be appointed an independent Non-Executive Director of the Company. Mr Shepherd is currently Deputy Chairman of Transfield Services Limited, and is a Director of ADI Limited and the NSW State Transit Authority. He is also Vice President of the Australian Council for Infrastructure Development. ERG Chairman, Mr Sandy Murdoch, said: "Mr Shepherd brings impeccable experience in overseeing the management and delivery of major, long term infrastructure projects to ERG. "As ERG continues to win new, major transit ticketing projects it is important that the Company's Board incorporates strong project management and delivery expertise in addition to commercial and financial expertise. "Mr Shepherd brings a highly respected record of achievement and experience in these areas." Mr Shepherd's appointment is part of the Board's review of its structure and make-up which was announced at last year's Annual General Meeting. Mr Shepherd's appointment as a Director will become effective on 2 May 2003. "The review continues and finalising the structure of the Board will be a key focus following this week's Shareholder Meeting to consider the restructure of the Company's balance sheet," Mr Murdoch said. ?END? BACKGROUND INFORMATION ERG Group The ERG Group is a world leader in the development and supply of integrated fare management and software systems for the transit industry, and for its smart card systems and services. ERG has 15 offices across 11 countries and employs approximately 780 people. ERG's customer list includes automated fare collection projects in more than 200 cities. Throughout the world, the ERG Group has more than 15 million smart cards in circulation. ERG is an Australian-based company, listed on the Australian Stock Exchange. Mr Tony Shepherd Mr Tony Shepherd brings over 30 years of extensive experience in commercialising the development of several significant public and private infrastructure projects underpinned by prudent financial management. Currently Deputy Chairman of Transfield Services Limited since 2001, Mr Shepherd was Chief Executive Officer, Project Development from 1992 to 2001. During this period he was responsible for several significant projects including the $2 billion Melbourne City Link Project and the $650 million Walsh Bay precinct re-development in partnership with the NSW Government. As Director of Transfield Group's business development strategy from 1979 to 1988, Mr Shepherd was responsible for negotiating and managing major infrastructure contracts and agreements including the $750 million Sydney Harbour Tunnel project. Mr Shepherd is currently also a Director of NSW State Transit Authority, ADI Limited and Vice President of the Australian Council for Infrastructure Development. Contact Details: Shaun Duffy, General Manager, Investor Relations Phone:+61 8 9273 1879 Email: sduffy@erggroup.com ---------------------------- ERG Group -------------------------- The contents of this email and any attachments are confidential and may only be read by the intended recipient. ----------------------------------------------------------------- [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Tony Shepherd/ Transfield/Transurban/ADI/Electronic tolling./BOOT | Note Australian Defence Industries | Saturday, May 03, 10:54:40pm |