Forum Archive Index - April 2000

[Chris Darby <darby@ak.planet.gen.nz>]

         For those who keep track of E Watsons adventures, here is 
another to factor in.
         CBT currently at 25c and options(CBTO) at .125c on thin trading.

         Regards, Chris  



          CBT -  ASX Company Announcement
          $prs1 THIS IS A PRIORITY ITEM
          7 April 2000
          Part 1/1
          --------
          CANBET LIMITED
          --------------
          HOMEX - Sydney
          Acquisition of interest in lottery company/new exec.director
          Canbet Limited ASX CBT has entered into a contract which will 
enable
          it to acquire a 55 percent interest in a Melbourne based lottery
          business. The consideration for the shareholding in TMS Global
          Services Pty Limited, whose shareholders include Cullen 
Investments,
          will be satisfied by the issuing of fifty (50) million (20 
cent) new
          Canbet Limited shares, twenty five (25) million (26 cent) new 
Canbet
          Limited options and a capital injection of A$1 million. The 
deal is
          conditional on a due diligence review and Canbet Limited 
shareholders
          approval. TMS Global is the largest exporter of Australian 
lottery
          products with over 15 years experience in the promotion and 
marketing
          of lottery products in the Asian/Pacific region.
          The proposed acquisition by Canbet Limited compliments Canbet's
          already established international internet sports wagering and 
horse
          racing expansion plans. The potential synergies between TMS 
Global
          and Canbet Limited are very complimentary in helping Canbet 
achieve
          its goal of being one of the largest on-line sports wagering and
          gaming companies in the world.
          To oversee the continued expansion of the wagering business, Mr
          Michael Tomeny has joined the Board of Canbet Limited as the
          executive director - bookmaking. Mr Tomeny took over the 
running of
          the Canbet bookmaking business at the beginning of February. He 
had
          previously established the Megasports Internet wagering 
operations in
          Canberra for the Nevada based American Wagering Inc. Before 
coming to
          Australia Mr Tomeny was involved in the bookmaking industry in 
Las
          Vegas for over a decade. In 1994 he joined Leroys Horse and 
Sports
          Place as a book manager, overseeing the largest legal sports 
betting
          network in the United States.
          The expansion of Canbet's operations in to European and 
Australian
          sports continues as planned with strong growth in internet based
          turnover. During March internet turnover (52%) exceeded phone 
betting
          turnover for the first time.
          For further details please phone Richard Farmer on 02 6295 0741.
          R Farmer
          CHAIRMAN
          ends - AAP
          07-04 1019

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