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Subject: Re:orgasm pussy analysts at Egoli November 2001


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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
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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.
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Funding
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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.
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Long-dated contracts
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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.
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The purchase will enable ERG to fully integrate Proton with is existing MASS technology & provide a recurring income base.
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Rights Issue
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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).
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Re:orgasm pussy analysts at Egoli November 2001 (NT)I'm hoping to get my pussy zeroed out of this Walt--pussy19:10:04 01/31/03 Fri


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