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| Subject: 1) 30/5/2002 | |
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Author: anonymous |
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Date Posted: 08:50:05 01/12/03 Sun 1) 30/5/2002 The total annualised savings achieved have reached approximately $27million and the cost of the restructure is approximately 6 millionwhich is being expensed in the current half-year. 2) Investments accounted for using the equity method (unlisted companies) 58,876 minus 5 million Ecard equals 53,876 14/11/02(ERG have retained ownership to the technology) ('clear evidence') (tangibility) 3) As at 13/1/03 the net value of the assets is greater than the value of the company as a going concern, the writedowns were one off and won't be there next time it reports. 4) 1 million nine hundred and forty three thousand dollars redundancy costs 30/6/2001 to the 30/6/2002 reported 12/9 audited 1/10. Won't negatively impact period 30/6/02 to the 31/12/2002 to report on or around 11/3/03. (retrenchements only need to be done once.) 5) Sale of EDI Downer shares released from escrow occuring on the 9/7/02 announced to the ASX 10/7/02 13 million realised. (part consideration ERG Connect) 6) All up annualised savings confirmed 30 million on the 28/11/02 for most of the 6 month period half of 27 million. (ie approx 27 m on the 30/5/02) 13.5 mill. 7) Melbourne Settlement within ten days announced 25/10/02 20 million paid to OneLink 12.4 mill flowing through to ERG. (recurring ongoing payments 4.75m p/a) 8) Reversal of prior year profit, exchange movement and equity losses applicable to Prepayment Cards Limited 13,990 47.1% equity accounted---regardless of it's status with it possibly moving above 50% the reversal of profit in last years accounts negatively impacted the entity--this has not occured in period 30/6/2002 to 31/12/2002. 9) Singapore commencing 13/4/2002 beginning with 1 million transactions a day.4 million transactions each day by end of 2002 2/5/02 10) Proton acquired 100% (previously 10%privately-owned by its shareholders and had no publicly-quoted shares).March 15th 2002 only 3 months of revenues---period 30/6/2002 to 31/12/2002 six months of revenues. As part of ERG Group with a publically traded valuation reported 12/9 audited 1/10 (technological benefits from the commercialisation of it's technology flowing through late June 02.) 11) Triumphaunt Launch acquired 100% (previously 50%) March 15th 2002. 12) 165.3 million all up in writedowns and provisions some of which such as Prepayment Cards above and Ecard are already detailed ocurring in period 30/6/2001 to the 30/6/2002 reported 12/9 audited 1/10. being one off not occuring in the 1st half of the new financial year 30/6/02 to the 31/12/02 reporting on or around 11/3/02 (going on last years calendar) 13) Total R&D costs dropped from 42.3 million in 2001 to 23.2 million period 30/6/2001 to 30/6/2002 reported 12/9 audited 1/10 research and development savings have a direct impact on operating profit for period 30/6/02 to the 31/12/02 contained at 8% of revenue. for 30/6/2002 to 31/12/02. 14) 28/11/02 finalisation of ten to twelve new contracts imminent. 15) 28/11/02 Repayment of more than $60 million bank debt in the last nine months. (16 million was generated from the sale of EDI Downer 13 million realised) proceeds used to repay CBA. 16) two announcements concerning the unlisted convertible notes one dated the 10/10/02 the other the 16/10/02 the first one is in relation to Utilico and the former with respect to SUIT--4.95 million dollars in non current liability reduced. ERG as it announced on the 12/9 stated it would pay the difference between what the share price was trading at and the face value---each note converted into 3 shares--equalling a price of 55c--the two issue prices to the institutions involved were 17.66 and 17.48. 1.51875m saving in interest---the payments were due to be made (interest to the noteholders) on the 1/10/02--the announcement from ERG states that the entity made prior arrangement s with both SUIT and Utilico--from announcement section"The notes were converted in accordance with the arrangements made with the Subscriber and announced on 12 September 2002." therefore I would think they have saved for this coming half year 30/6/02 to the 31/12/02 reported on or around 11/3/03--the estimate made above. (1.51875m) essentially though I guess this transaction would be part of the 30 million in annualised costs savings announced by the entity 28/11/02. issue prices were 17.66 and 17.48. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: 1) 30/5/2002 | anonymous | 09:56:19 01/12/03 Sun |
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