or completely Paranoid of this stock ASX Announcement 16.01 friday 14 October 2005
POWERLAN AGREES TO SALE OF FINANCIALBPO PTY LTD TO COMPUTERSHARE
Powerlan Limited (ASX: PWR) announced today it had reached agreement with Computershare Limited (ASX: CPU) for the sale of Powerlan’s subsidiary FinancialBPO Pty Ltd.
This is further to the announcement made 4 August which indicated that Powerlan had entered into an exclusive due diligence period with Computershare which would lead to the divestment of FinancialBPO.
Computershare will pay $9.5 million cash on settlement and issue 1 million Computershare options with an exercise price of $6.15 with a five year exercise period. Subject to satisfaction of conditions precedent typical of transactions of this type, completion is expected by 31 October 2005.
About Powerlan Sydney-based, Powerlan Limited (ASX: PWR) provides specialist information technology products and services, business process outsourcing and infrastructure support through seven operating divisions: Business Innovations, Powerlan’s R&D division, provides leading edge general IT consulting and custom application development services. Clarity (www.clarity.com) offers carrier-grade Operational Support Systems and Network Management Systems software solutions for telcos and enterprises. ConverterTechnology (www. convertertechnology.com) offers specialist services and innovative technologies to help clients migrate files across incompatible desktop applications, particularly Microsoft Office. FinancialBPO (www.financialbpo.com) provides back office business process outsourcing for the financial services sector. Garradin (www.garradin.com) offers integrated software solutions aimed at investment managers and administration platforms. IMX (www.imxsoftware.com) offers software solutions focused on travel money and foreign exchange. BizTech Outsource (www.biztechoutsource.com) provides business technology related managed services such as IT infrastructure management, IT security, application hosting, and communications. Except for Business Innovations, a business unit within Powerlan Limited, all other divisions are incorporated and operate as self contained companies.
PWR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
