Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Strathmore Invests in Global Online Promotions

Strathmore Invests in Global Online Promotions

Auckland – Tuesday, 1 February 2000 –Strathmore Group Limited (NZSE: SMR) today announced that it has agreed to invest $550,000 in Global Online Promotions (GOLP), with an option to increase this to $2 million to acquire a stake of up to 33.3 percent.

Other shareholders of GOLP are private investors including Cullen Investments, senior management and a privately owned Melbourne-based technology company.

GOLP is an Internet e-commerce initiative that provides online solutions to the retail sector. The product, currently under development in New Zealand and expected to be ready to market in three months, has considerable potential to expand in international markets.

GOLP’s founders and management team include Chairman, Chris Aiken, one of the original founders of ComputerLand and a director of several technology and retail companies, and Director, Marketing and Strategy, Chris Berryman, who has considerable international experience in the e-commerce sector.

“In order to protect a first-to-market advantage we will not provide further details about Global Online Promotions until product development is completed and partnership agreements have been finalised,” says Phil Norman, Chairman of Strathmore Group. “We expect to be able to do this early in the second quarter.”

About Strathmore Group Limited

Strathmore Group Limited is a technology investment company with approximately $11 million of shareholders funds. It targets Internet, e-commerce and information technology companies with potential to deliver accelerated growth in shareholder value by competing in global markets. It provides finance, strategic advice and a network of relationships to assist technology companies to migrate internationally. It also manages a high-tech incubator fund that enables smaller companies to grow to the point where they are ready for such a migration.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news