LibertyOne still shooting for Nasdaq
- — 15 March, 2000 17:26
At the company's annual general meeting in April, shareholders will be asked to approve plans to issue up to 100 million ordinary shares within three months of the meeting. The listing was originally flagged to be completed by March 23, following approval at an extraordinary general meeting held on December 23, said Christopher Muldoon, a LibertyOne spokesman.
Business and strategic issues, such as the re-negotiation of LibertyOne's Excite deal and new partnerships with uBid and PrivaSeek, caused LibertyOne's schedule to "run a little tight", Muldoon said.
"Listing on Nasdaq is now the company's major priority following the recent resolution of a number of business and strategic issues," said Nicholas Whitlam, LibertyOne's chairman.
In addition to focusing on the listing, Muldoon said a number of other business activities are expected to be completed within the next three months. The company announced on Monday it has signed an agreement with US internet infomediary PrivaSeek for an Asia-wide joint venture.
Representing a significant push into Asia for LibertyOne, the internet company will take an 80 per cent, or $16.3 million, stake in the venture, to be called PrivaSeek Asia, and will contribute up to $30 million in debt funding over the next few years to the new business.
Under the deal, PrivaSeek Asia will be a provider of PrivaSeek's Persona technology and services in China, Japan, India, Hong Kong, Korea, Australia and New Zealand, officials said.
PrivaSeek's Persona technology allows consumers to control the use of their personal information on the web. By registering their personal details with PrivaSeek, consumers can authorise the distribution of their information to companies who agree to adhere to privacy rules and who target specific audiences.