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News Briefs

News Briefs

LibertyOne shuffles the deck

LibertyOne has reshuffled its Board, appointing four new non-executive members, the Internet company announced recently.

The move follows the November resignation of CEO Warren Lees and the dumping of merger plans with a mystery company which resulted in the share price falling.

The newly appointed CEO, Graham Bristow, employed the new Board members in key locations; one resides in Australia, two in Hong Kong and one in the US. Australian-based and ex-NRMA chairman Nicholas Whitlam is to take up the chairmanship of LibertyOne.

Early on Wednesday last week the shares were down three cents to $2.14.

MYOB buys NZ accounting company

MYOB has acquired New Zealand accounting practices company Professional Tools for an unknown sum, the software company revealed last week. The acquisition follows another takeover of NZ business CA Systems. However, the announcement did not push the share price up, which remained at around $9.80 last week. The company also announced it is moving to Melbourne's Technology Park in East Burwood. The move to new headquarters was partly funded by its listing, MYOB boss Craig Winkler said.

Melbourne ISP's IPO well oversubscribed

Melbourne-based ISP IT&e closed its public offer two weeks prior to the publicised close date of November 29. The offer was oversubscribed by 10 per cent and all shares were purchased in one week. IT&e offered 25 million shares at 60 cents each and the company was planning to float on Friday December 3. IT&e has 14 years business experience and turned over $60 million last financial year.


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