Menire Corporation Stock Exchange Release 1 July 20
Menire Corporation has on 30 June 2002 acquired 26,97% of Xenetic Ltd from Endero Plc’s fully owned subsidiary Terra Nova Group Ltd. The shares bought were Terra Nova Group’s entire holding in Xenetic. The purchase price for the shares and Terra Nova Group’s loan receivables from Xenetic is 600 000 euros.
Proha Plc has two purchase options for Endero Plc’s stake in Xenetic either 2002 or 2003 and Menire will honour these. Should Proha Plc use its purchase options, Menire’s ownership of Xenetic will drop to 20.07 per cent.
Xenetic integrates solutions for data security, facilities management, high availability hosting and advanced monitoring and consults in all these areas. Xenetic services are tailored for financial institutions’ business critical needs as well as for online brokers and application service providers.
Other shareholders of Xenetic Ltd are eQ Online Plc (54,98 %), Mr. Pekka Pere (15 %) and the personnel (3,05 %).
MENIRE Plc
Peter Seligson
Further information:
Peter Seligson, Managing Director, tel. +358 50 1493,
peter.seligson@menire.com