incredible what u can findMedia Release - January 12, 2000Bourse...

incredible what u can find
Media Release - January 12, 2000

Bourse Data Limited today announced that it would takeover Australia's leading online investor forum, HOTcopper Australia Limited, through a share swap agreement.

Under the proposed arrangement, Bourse Data will offer one of its shares for each six HOTcopper shares under a takeover scheme in accordance with the Corporations Law. In due course, a Part A statement will be distributed to all HOTcopper Australia Limited shareholders.

The merger will see HOTcopper operate as an independent business unit of Bourse Data, while the two companies will pool resources and assets including technology, people and customer databases. HOTcopper will operate from Bourse Data's Melbourne headquarters.

Founded over eight years ago and listed in July, 1999, Bourse Data is now a major player in the financial information, tools and business content markets. HOTcopper listed on December 22 last year.

Chairman of Bourse Data, Mr Gil Hoskins said, "Our Board is delighted with this deal. With more than 20,000 subscribers, HOTcopper is the most significant source of investment comment on the web.

"Bringing Bourse Data and HOTcopper together delivers significant synergies to both companies. As well as providing access to a strong, fast-growing on-line community of Australian investors through its subscriber base, HOTcopper delivers Bourse Data valuable senior management experience.

Mr Hoskins said the deal would position the two companies to dominate the Australian on-line investment market.

HOTcopper Chief Executive Officer, Mr Mike Vallender, said the merger would help his company fast track its business plan.

"HOTcopper is focusing on four key revenue streams - on-line transactions, membership subscriptions, content licensing and advertising. Bourse Data has much of this already in place with a proven on-line transaction and subscription infrastructure, real-time market information and high quality financial content."

Subject to the satisfaction of ASX requirements, holders of 19 percent of HOTcopper's shares and a majority of its options have committed their holdings to the proposed amalgamation.