Africa Oilfield Share Discussion Threads

[artful watcher] 01/4/2002 12:19

why the LOL, suppose you're going to tell me this isn't real!!

[maxk] 01/4/2002 12:18

LOLOL!...:-))

[raven] 01/4/2002 12:14

From: Associated Press

AOL to Purchase ENERGIS.


LONDON (AP) 01,04,2002

In a move that some London analysts are calling "staggering," the LSE ( London Stock Exchange ) AOL announced in a joint press conference today that they will be purchasing Energis for 12p a share .

Inc., (NYSE: AOL), headquartered in Dulles, Virginia, for an undisclosed amount.

AOL Chairman and CEO Steve Case, and President and COO Robert W. Pittman, joined Commissioner of Internal Revenue, Charles O. Rossotti, in Washington, DC, to announce this take over.

Rossotti explained that, "[due] to their high volume of American users, AOL is the perfect agency for The Department of the Treasury to venture into collecting information and revenue electronically."

The LSE has announced that as soon as Energis approves the purchase of 12p a share, they will be changing the current rate structure on AOL.

AOL had announced a rate change from their standard £12.00 per month to £18.95, which will be implemented as of June 1, 2002. However, AOL has stated they will instead be lowering the monthly rate to a base £4.95 per month. On top of the base rate, they will be instituting what is being termed a "usage" rate.

As an example, a single user would take 28% of the number of minutes they are online and multiply by ten pence per percentage point. Thus, a user on line for 60 minutes would incur a usage cost of an additional £1.68. Now, a married couple would take 37 1/2% of the number of minutes they are online and multiply by ten cents per percentage point, hence, 60 minutes would incur a usage cost of £2.25. However, should this married couple have a child under the age of 18, they can deduct 2 1/2% of each 5 minute interval that any dependent is online.

Additional usage cost modifiers will be included as AOL-Energis Congress deems it necessary.

AOL Energis believes, "this pricing structure will persuade many UKs to migrate back to using AOL for their Internet access and for payment of their income taxes." AOL Energis will also be removing many of their advertising banners due to the political ramifications that may be brought into question by Congress as, "favouritism," or, "wrongful contributions."

According to Rossotti, the main reason for the proposed take-overis
financial. The new company intends to use revenue generated by the base plus usage rates to subsidize the rising costs associated with the processing of the income taxes.

AOL Energis will also sell off the foreign units consisting of Germany. the UK Unit (also serving Sweden), France, Germany (also serving Austria and Switzerland), and Japan. They expect that these "branches" will spawn Europe Online, Asia Online, and Canada Online, and bring to the new company an estimated £1.3 billion.

Security, the Energis-AOL merger will allow AOL users to file their income taxes under their screen names rather than their social security numbers directly through AOL.

As an incentive for this "screen name - income tax" plan to
work, known as Energis Initiative 257, Energis will be granting a 5% tax reduction on all monies due for any AOL user filing under their screen name and as long as they use ADVFN. Any refunds due back to AOL users will be processed first, with no reduction.

Energis has stated that they will set up a toll-free number to handle
questions and calls concerning the merger and any pricing structure
Changes.

FINMAC will answer all calls on our behalf!

[gerry 2] 01/4/2002 01:02

Do we get 1 AOL share for every 10000 EGS shares ?
Or is this to much to ask .