By Aimee McClinchy
Friday 9th June 2000 |
Text too small? |
The purchase of Wel for $2 million in cash and shares was passed after directors allayed some shareholder fears about the departure of Wel entrepreneur John O'Hara, who steps down as chief executive at the end of the month.
Wel's new chief executive will be Gavin Mitchell, who has a background in software companies.
Mr O'Hara, who started internet company Voyager and was a director of IT Capital until recently, said he had chosen to concentrate on his own ventures overseas.
Another of his companies had entered a joint venture in Ireland and was securing sales in the medical field, he said.
Spectrum Resources executive director Rob Levison told shareholders Wel's purchase price would be lowered to $1.25 million if a software deal in due diligence was not signed off as expected in the next few weeks.
No comments yet
FWL - Foley Wines Limited 2024 Harvest
IKE Closes Major Multi-Year Subscription Deals
AIA - 2024 Macquarie Australia Conference Overview of AIA
Devon Funds Morning Note - 06 May 2024
EROAD FY24 Results and Webinar Details
thl reduces FY24 NPAT guidance
May 6th Morning Report
Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward