The half-year result includes a provision of $52.4 million taken in contemplation of the PW sale, as compared to its book value at 31 December 2002.An amount of e22.5 million (A$40.9 million), representing payments due to ERG on a <b>milestone earn-out basis</b> under the proposed PW salehas not been accounted for in determining the provision and will be brought to account as it is earned.As part of the proposed sale -- Anonymous

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

Sunday, May 17, 01:11:28am

[ 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: The half-year result includes a provision of $52.4 million taken in contemplation of the PW sale, as compared to its book value at 31 December 2002.An amount of e22.5 million (A$40.9 million), representing payments due to ERG on a milestone earn-out basis under the proposed PW salehas not been accounted for in determining the provision and will be brought to account as it is earned.As part of the proposed sale

Author:
, ERG will retain access to the Proton technology by taking a 20 year global licence of the Proton technology.

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: Thursday, March 06, 01:57:51am
In reply to: 6/3/2003 's message, "2003 Half Year Review" on Thursday, March 06, 01:17:03am

The half-year result includes a provision of $52.4 million taken in contemplation of the PW sale, as compared to its book value at 31 December 2002. An amount of e22.5 million (A$40.9 million), representing payments due to ERG on a milestone earn-out basis under the proposed PW sale, has not been accounted for in determining the provision and will be brought to account as it is earned. As part of the proposed sale, ERG will retain access to the Proton technology by taking a 20 year global licence of the Proton technology.

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Subject	Author	Date
In the half-year, the Group paid out $25.5 million in bank debt and $21.3 million in unlisted convertible note debt.This was replaced by a $15.4 million secured loan with the major listed convertible noteholder, Special Utilities Investment Trust (NT)	and $14.2 million of debt drawn down under the Babcock & Brown facility - a net debt reduction of $17.2 million.	Thursday, March 06, 08:04:12am