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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Straight | LSE:STT | London | Ordinary Share | GB0033695486 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 77.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5841O enterpriseAsia.com PLC 27 July 2000 enterpriseAsia.com plc ('enterpriseAsia' or 'the Company') #1.2 million investment in CFN (UK) Limited The Board of enterpriseAsia is pleased to announce that it has today entered into an agreement to subscribe a total consideration of #1,199,700 in cash for new ordinary shares in CFN (UK) Limited ("CFN UK") representing 39.99% of its issued share capital. StartIT.com.plc, a company in which Peter So, the Non-executive Chairman of enterpriseAsia, is chairman has also today subscribed #300,000 for 10% of the issued share capital of CFN UK. CFN UK will be part of the Cyber Financial Network ("CFN Network"), which is being established globally by CFNasia Holdings Limited ("CFN Holdings") a company based in Hong Kong. CFN Holdings, which will own the balance of 50.01% of the shares in CFN UK, is a technology consultant and enabler providing turnkey business to business e-commerce solutions to financial institutions and intermediaries globally. Through the CFN Network, CFN UK will become a technology enabler for small to medium sized brokers and financial institutions in the UK who need to diversify their traditional services into the internet and overseas investment vehicles, thus enabling such financial institutions to maintain their competitive position against the larger market players. Based on systems designed by CFN Holdings and already in operation in Hong Kong, CFN UK will install and maintain online trading systems using the Internet for its clients. These systems will provide them with the facilities to enable UK investors to trade in UK and overseas securities and overseas investors to trade in UK securities. The total amount subscribed by enterpriseAsia and StartIT.com plc for new ordinary shares of CFN UK of approximately #1.5million is projected to provide sufficient working capital for the initial funding required to launch CFN UK and maintain it during its first year of operation. CFN UK will be launched in October 2000 and is expected to become profitable in its second year of operation. The Board of enterpriseAsia believes that the investment in CFN UK represents a unique business opportunity to participate in building a global financial services network in association with CFN Holdings which is establishing operations in Hong Kong, Japan and the USA. Peter So, the Non-Executive Chairman of enterpriseAsia and the holder of 4.1% of its issued share capital, is also chairman of StartIT and the holder of 11.9% of that company's share capital. Peter So is a director of CFN Holdings Limited and the beneficial owner of 10% of its share capital. The Board of enterpriseAsia (other than Peter So who, in view of his interests, has taken no part in the Board's deliberations) is of the opinion, having consulted with the Company's nominated adviser, English Trust Company Limited, that the terms of the transaction are fair and reasonable so far as shareholders of the Company are concerned. For further information, please contact Phill Brown Corporate Relations Director, enterpriseAsia.com plc +44 1274 623 478 Benjamin Ng Chief Executive Officer, enterpriseAsia.com plc +852 2116 5900 Peter Addison, English Trust Company Limited 020 7608 0888
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