Forum Archive Index - June 2000

["David Reid" <aspex@ix.net.nz>]

Naybody know anything of this ASX share. I hold IBI which made the following announcement.

05.06.00 :+67.5, (870) announces that Online Advantage, its Australasian distributor, has forged a wide ranging B2B e- Commerce partnership, with Australasia's office technology and office products and services company, Blue Star Business Supplies Group. The partnership establishes the first major office products portal in Australasia, resulting in one of the largest electronic trading communities in the region. Under the proposed deal OLA and BSBSG will, using InTrade e-Hub technology, develop a jointly owned e-Procurement and trading community to handle transactions among the wide network of companies within the Blue Star Business Supplies Group in Australia and New Zealand. BSBSG, wholly owned by US Office Products, is the leading office supplies group in New Zealand and the second largest in Australia. Infobank will receive royalties linked to the value of all transactions executed through the portal. Other suppliers are being invited to participate in this trading community, enabling a full range of products and services to be offered to BSBSG's existing customer base of SMEs' and corporate customers as well as to the government. It is anticipated that these suppliers will add significant transaction revenue in addition to BSBSG's existing business. The Portal will be 40% owned by OLA and 60% by BSBSG. As part of the agreement OLA will, subject to obtaining necessary shareholder approvals, issue BSBSG with 35,340,500 shares in OLA (representing 14.6% of OLA equity). A share claw back provision in respect of 32 million shares will be activated on a pro rata basis if the cumulative net revenue to OLA from the portal does not exceed NZ$22m over the next 3 years.

David Reid