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Ann: OnCard AGM Presentation 2012 , page-6

  1. jadenhu
    16 Posts.
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    27/11/12
    18:23
    Post #: 11115178
    Charlie, thank you very much for the detailed AGM write up.

    S, The 10% of the float funds (~$25m) is not "cost" to SmartPass for the 5 years licence. It is "cash reserve" that all card issuers must hold for them to be able operate the prepaid card business. The cash I assume would be deposited in a Chinese bank owning interest for us? Correct me if I'm wrong.
    TFL Price at posting: 17.0¢ Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

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