CardBASE Technologies announced, that a
scheme of arrangement has been approved by the High Court, taking the
company successfully out of examinership with immediate effect.
The latest tranche of fundraising totalling IRÂ£4.3 million, from a number of
investor groups, including ICC Software Partners and Eastbound (A Denis O’
Brien investment company) is now in place to take the company through to
positive cash flow and profitability for 2002.
The scheme, as approved by the Court, makes provision for existing
shareholders to subscribe for new shares at the same price as the new
ABOUT CARDBASE TECHNOLOGIES
CardBASE TechnologiesÂ® a leading provider of smart card solutions for secure
e-commerce, is a European company serving world markets from its
headquarters in Ireland and offices in the United States and Africa. Since
its foundation in 1993, CardBASE Technologies has been providing innovative
smart card management systems for the Internet, Banking, Financial and
Airline markets. CardBASE world wide customers include British Airways,
ValuCard Nigera Plc, and Visa International.
The CardBASE solution supports Multiple Application Smart Cards, Card
Personalisation, Card Management, Transaction Processing and Settlement.
CardBASE solutions have been specifically designed to support the Visa
International led Common Electronic Purse Specification (CEPS), EMV and the
Public Key Infrastructure (PKI) standards.
CardBASE’s website is www.cardbase.com