Sharechat Logo

Advantage seeks more cash for growth

Friday 23rd June 2000

Text too small?

Listed technology company Advantage Group will go to shareholders today asking for more money for acquisitions and share options for its executives.

The company has been on an acquisition drive for much of the year and this week purchased Netco, the country's second largest reseller of Eftpos terminals.

There has been an upheaval in the Eftpos market after ANZ Bank purchased the biggest reseller of the equipment, Eftpos New Zealand, earlier this month.

At today's meeting shareholders will be asked to approve the issue of 12 million new shares to help fund further acquisitions and upgrade the company's share option plan.

Already this month the company has issued two million new shares to AMP Asset Management for the same reason.

But chief executive Greg Cross said there would be no announcement of new acquisitions at today's meeting.

He said the resolutions concerning employees' options, if passed, would help make the company more attractive to the talent it required. This year Advantage has hired more than 80 new staff and plans to hire another 80 by the end of the year.

On Thursday morning, Advantage Group was trading down 2c at $3.12, still well off its April high of about $5.50.

- Nicholas Bryant

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report