EMO Emondo.Com

RNS Number:8369Y
emondo.Com PLC
14 February 2001





Issued on behalf of emondo.com plc
14 February 2001                          EMBARGOED UNTIL 7AM





                  emondo.com plc ("emondo" or "the Company")





         Proposed Acquisition of basicfactory s.r.l. ("basicfactory")

               the IT division of BasicNet S.p.A. ("BasicNet")



                            Proposed fund raising



                 Proposed Change of Name to emondobasic plc.





Details of the Acquisition



The Directors of emondo, the AIM listed specialists in business to business
e-commerce solutions announce that they have entered into a conditional
agreement with BasicNet to acquire basicfactory in consideration for the issue
to BasicNet of 7 million New Ordinary Shares of 5p each. basicfactory is a
company newly incorporated for the proposed transaction. BasicNet has also
agreed to employ emondo as IT consultant for a three year period. The assets
of basicfactory comprise hardware, software and office equipment and have been
valued at approximately #1,727,000.



As part of the Proposals, the Company will also place New Ordinary Shares on a
non pre-emptive basis with institutional investors to raise approximately #1.7
million. In order to complete the Proposals, emondo shareholders will be asked
to disapply their pre-emption rights and a notice convening an EGM will be
sent to shareholders, together with a circular explaining the Proposals, in
due course.



Following completion of the Acquisition the Company intends to change its name
to emondobasic plc in order to reflect the two principal components of the
Enlarged Group. The subsidiary, basicfactory, will change its name to
emondofactory s.r.l.





BasicNet



BasicNet is an Italian public company listed on the Mercato Telematico
Azionario of the Italian Stock Exchange and owns, inter alia, the well-known
sportswear trademarks Robe di Kappa and Kappa which are marketed outside of
Italy and the USA by licensees. BasicNet has important merchandising and
licensing agreements with, amongst others, the Italian National Football Team,
the Italian National Rugby Team and AS Roma.



The BasicNet group manages relationships with 35 licensees and 8 manufacturing
centres with whom strategies are coordinated and, to facilitate its business,
a highly sophisticated modular, flexible, structured IT platform has been
developed using the Internet. The IT platform has taken five years to develop
and is considered by the BasicNet management to be a valuable adjunct to their
core business which is not receiving appropriate recognition by investors.
They believe that hiving-off the IT operations to emondo to market their IT
solutions commercially will enable BasicNet to capitalise on its past
endeavours through its substantial shareholding in emondo.



The Proposed Enlarged Group



It is intended that the Enlarged Group will integrate the existing emondo and
BasicNet solutions and complementary areas of expertise to provide end-to-end
services to CPRD clients using Microsoft based systems. It is also envisaged
that a wider range of service offerings will afford more opportunities to
acquire new clients and to increase the share of business with existing
clients.



                                    -Ends-



Enquiries:



Fabio Cavalli, CEO emondo.com plc         Tel: 0041 79 621 31 80
Jeffrey Coburn, John East & Partners      Tel: 0207 628 2200
Alex Walters, Walters Associates          Tel: 0207 440 5658

Emondo.Com (LSE:EMO)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024

Emondo.Com (LSE:EMO)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024