SYNERGY EQUITIES GROUP LIMITED 2002-10-22 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Synergy Equities Group Limited ("SYNERGY" or "the Company") is pleased to announce that the Company's wholly owned subsidiary, Synergy Business Solutions Australia Pty Ltd ("SYNERGY Australia") is to internally undertake the preparation of a formal Corporate Business & Marketing Plan ("Business Plan") for the "online website ticketing & payment authorisation solution" ("SYNERGY Ticketing").
BACKGROUND
SYNERGY Australia has recently executed a Memorandum of Understanding with the Royal Perth Yacht Club of Western Australia (Inc) (as announced to the ASX on 17 October 2002), to provide the club with SYNERGY Ticketing. This affords SYNERGY Australia the opportunity to further develop and enhance its base SYNERGY Ticketing solution, such that additional value added services can be provided.
The Company's Board of Directors has agreed that a Business Plan is to be developed for SYNERGY Ticketing by 20 December 2002. It is intended that the Business Plan will be completed by SYNERGY Australia and accepted by the Company's Board, prior to the commencement of the commercialisation of SYNERGY Ticketing to the wider market in late January 2003.
Remembering, SYNERGY Australia is the preferred supplier of "payment and web ticketing solutions" for Box Office Computing Systems ("BOCS Ticketing") in Australia and as such, process credit card ticketing payments for the Sydney Opera House through the SYNERGY TradeCentre / SYNERGY DataCentre in real-time. SYNERGY Australia is therefore well experienced with these types of requirements.
INTRODUCTION
A document referred to as the "Scope of Future Business Direction for SYNERGY Ticketing" has been prepared. This document outlines the proposed approach to the preparation of the Business Plan. The Company's Board has confirmed that the outline in the document is suitable for the intended purpose.
TERMS OF REFERENCE
The terms of reference is to prepare the Business Plan incorporating researched and available information into a professional document that is to be used for implementing, managing and monitoring the commercialisation of SYNERGY Ticketing for the next two (2) years.
The Business Plan may also be used to establish a business format for the preparation of plans for other technologies developed by SYNERGY Australia for commercialisation in the future. The Business Plan will be a wide ranging strategy document and will be developed from an analysis and understanding of all aspects of the technology, its commercial benefits and opportunities with specific attention to technical quality, market orientation and implementation.
SCOPE
The scope of the Business Plan will be detailed accordingly and include the following:
* Statement of purpose; * Business profile; * History of products & services; * Philosophy; * Business mission; * Corporate goals; * Product description; * Technology & Human resources; * Operational details; * Corporate structure & management; * Financial plan; * Action plan & implementation schedule; * Analysis of risk; and * Appendices.
TIMETABLE
It is envisaged that SYNERGY Australia will complete the Business Plan over a nine-week period commencing during the week ending 27 October 2002 and concluding no later than Friday 20 December 2002. SYNERGY Australia and the Company's Board have agreed specific milestones and checkpoints. It is further envisaged that the final document will be formally approved by the Company's Board prior to commencement of business operations in January 2003.
R Moir MANAGING DIRECTOR
SYG Price at posting:
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