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| Subject: Re:orgasm pussy analysts at Egoli November 2001 | |
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Author: The purchase will enable ERG to fully integrate Proton |
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Date Posted: 19:06:45 01/31/03 Fri In reply to: give me some time pussy 's message, "Re: haven't finished yet give me some time" on 19:03:57 01/31/03 Fri Analyst Comments: Update on ERG acquisition and rights issue 1-November-2001--Acquisition ----------------------------------------------------------- As suggested in MC of 30/10, ERG Ltd (ERG) has announced the acquisition of the outstanding 90% in Proton World, the owner of the Proton smart card technology for $110m, from American Express, Banksys, Interpay and Visa. ----------------------------------------------------------- Funding ----------------------------------------------------------- As consideration, ERG will pay $58.8m cash & issue ƒ°75.5m (8.4%) shares in ERG, subject to escrow (2 ¡V 3 years). ERG will issue an additional 8m options, exercisable of meeting performance criteria. ----------------------------------------------------------- Long-dated contracts ----------------------------------------------------------- The purchase contracts are backed by 5 ¡V7 year service contracts with the proton customer bases, expected to generate revenue of over $200m. For CY 2000, Proton revenue was around $33m. ----------------------------------------------------------- The purchase will enable ERG to fully integrate Proton with is existing MASS technology & provide a recurring income base. ----------------------------------------------------------- Rights Issue ----------------------------------------------------------- To fund growth, ERG announced a $104m, 3 for 10 renounceable underwritten rights issue at $0.50 ps (XR 9/11, to all ordinary & Convertible Note holders (except from above issue). ----------------------------------------------------------- [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re:orgasm pussy analysts at Egoli November 2001 (NT) | I'm hoping to get my pussy zeroed out of this Walt--pussy | 19:10:04 01/31/03 Fri |
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