Advantage Shareholders Approve Acquisitions

Friday, 9 July 1999, 6:39 pm
Press Release: Unknown

Advantage Shareholders Approve Acquisitions and Endorse Direction of E-commerce Company

Auckland - Friday, 9 July 1999 - Advantage Group Limited (NZSE: ADV) announced this afternoon that all resolutions were passed unopposed by shareholders at today's Special Meeting held at Advantage's Auckland offices.

This confirms Advantage's acquisition of the major business interests of Computer Enhancements, New Zealand's leading supplier of barcode-based scanning and portable data acquisition solutions, and the acquisition of PEC Retail Solutions, a supplier of world-leading retail automation software solutions to the global oil industry. Shareholders also authorised the directors to issue up to 10 million ordinary shares to enable further capital raising.

At the meeting, chairman Evan Christian said: "We have made a creditable beginning...if we are to go forward, I want it to be with shareholder support. Accordingly I'm asking you today not just to cast your vote in favour of the resolutions before you, but also in support of the vision we have for our company."

Following the meeting Mr Christian said that shareholders' unanimous endorsement of the company's performance and e-commerce direction is extremely encouraging for Advantage's Board and management. Company Background

Advantage Group Limited, an NZSE listed company, is a leading supplier of advanced electronic commerce and transaction processing solutions in the retail, oil, banking, health and hospitality sectors in New Zealand, Australia and throughout the southern hemisphere. It provides the hardware, software, transaction processing and funds transfer capabilities to enable complete e-commerce solutions. ENDS

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