For those who are new to this company, below is the Carbon Planet announcement of 14 October 2009.
14 October 2009
Carbon Planet Agrees to be Acquired by Technology Investment Company, m2m Corporation Limited Carbon Planet is pleased to announce that a contract has been signed for its business and net assets to be purchased by m2m Corporation Limited. Through this transaction, Carbon Planet's business will become a fully-owned subsidiary of m2m Corporation Limited.
Carbon Planet is currently in negotiations to buy back the Audit and Advisory business which was franchised in 2008 as Carbon Planet Australia Pty Ltd, making Carbon Planet, within m2m, Australia's first listed full-spectrum carbon management company.
m2m will be conducting a capital raising of $10 million, to be concluded simultaneously with the completion of the transaction.
The deal provides Carbon Planet with accelerated opportunities for further growth. Carbon Planet can now amplify its core skills and expertise, leaving it better placed to fulfil its mission as a global full-spectrum carbon management company.
All employees will be retained to maintain Carbon Planet's extensive capabilities in carbon management, education, origination and commercialisation.
In addition to its core technical and scientific skills in the carbon economy, Carbon Planet's G3MS Software, pioneering use of internet telephony and web-based work flow management tools make it complementary with m2m's existing investment portfolio, with their background in global technology investment.
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MCL Price at posting:
0.4¢ Sentiment: LT Buy Disclosure: Held
