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AUSTRALIA'S CABCHARGE BUYS JV TAXI CIRCUITS IN SCOTLAND.

AsiaPulse News

| February 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Feb 1 Asia Pulse - Taxi payment service operator Cabcharge Ltd (ASX:CAB) has announced further expanded its Cabcharge system in Scotland with the joint venture acquisition of two taxi circuits in Edinburgh.

Cabcharge's Singaporean partner DelGro Corporation made the acquisitions through its new subsidiary Computer Cab Edinburgh Ltd.

CityFleet Pte Ltd, owned 85 per cent by DelGro and 15 per cent by Cabcharge, will have a 76 per cent holding in ComCab Edinburgh.

ComCab Edinburgh has agreed to purchase Freerich Ltd for a cash consideration of Stg170,500 (approximately $456,126) and the issue of 49,500 ordinary shares in ComCab Edinburgh at Stg1.00 each.

Freerich owns over 95 per cent of Radiocabs Edinburgh Ltd, a fleet of 190 vehicles.

The other privately owned business, Capital Castle involves a cash consideration of Stg175,000 (approximately $468,165) and the issue of 55,000 ordinary shares at ...

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Source: HighBeam Research, AUSTRALIA'S CABCHARGE BUYS JV TAXI CIRCUITS IN SCOTLAND.

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