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New Vocus/Amcom entity will have initial personnel restructure

New Vocus/Amcom entity will have initial personnel restructure

Board to have new make up

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Vocus chairman, David Spence; Communications minister, Malcolm Turnbull, and Vocus chief executive, James Spenceley at the launch of Vocus Communications' Alexandria data centre.

Vocus chairman, David Spence; Communications minister, Malcolm Turnbull, and Vocus chief executive, James Spenceley at the launch of Vocus Communications' Alexandria data centre.

The combined Vocus and Amcom board will feature three members of the existing Amcom board and five from Vocus.

The chief executives of Vocus and Amcom said there will be an initial personnel restructure when the two companies merge.

Vocus chairman, David Spence, said there was some restructure needed when the two companies complete the merger, but there was still a way to go before the process was complete.

“We don’t think there is a lot of overlap between the two offices, we don’t think there will be a lot of changes.”

Current Amcom chairman and proposed deputy chairman of the combined business, Tony Gris, told the media that the amalgamated entity will be looking to expand its workforce in the near future.

“The combined companies are going to grow so fast that we are going to need more people.”

The two firms have been given the go ahead to merge, a move described as mutually beneficial.

Under the terms of the agreement, Vocus is set to acquire 90 per cent of the remaining shares of Amcom it does not already own.

The move is still subject to approval from Amcom shareholders and the courts. The Amcom board made a unanimous recommendation to its shareholders in favour of the acquisition.

Spence spoke about the protracted negotiation period that had been ongoing since October when Vocus acquired the first ten per cent of its holdings in Amcom.

“Negotiations have been vigorous, but with a lot of good will from both sides.”

“These two great businesses, which are [focused on] the east and west coast of Australia and are very complimentary, will create a major telecommunications infrastructure provider.”

Spence told the media conference that Vocus is paying 0.4614 a Vocus share for each Amcom share.

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