---------------------------
AdultShop.com Announcement
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AdultShop.com would like to advise that we have received confirmation
from our underwriters with respect to the Company's prospectus
dated 28th March 2000. Our underwriters have reassured us of their
full commitment and that they look forward to sharing in the success
of AdultShop.com.
The prospectus issue is fully sub-written by prominent European
Funds Managers including the Company's Switzerland based Director,
Mr Hans Rudolf Moser. The Company understands that the underwriter
has at this stage received assurances from these sub-underwriters
that they will continue to support the Company's rights issue.
Although a volatile time in the market, AdultShop.com has maintained
a strong position both from a financial and consumer perspective.
The Internet is a primary focus for AdultShop.com but it is important
to note that we also own and operate traditional businesses in
both retail and adult communication services from which we continue
to generate revenues and profits. This combined with the early
revenue trends from our benchmark website places the Company in
a very strong market position.
The Company is currently in the process of raising AUD$21.6 million
for further expansion to fulfil our stated aim of becoming a global,
market leader in adult product retailing.
Managing Director, Mr Malcolm Day is currently on an international
business trip to investigate acquisition opportunities in the United
States and the United Kingdom. In addition, the Company's European
Business Development Manager, Mr Christoph Thaller is currently
in Europe discussing strategic business acquisitions with a number
of companies.
AdultShop.com would like to thank you for your support.
Malcolm Day
Managing Director
AdultShop.com Limited
www.AdultShop.com
Tel: +61 8 9227 6777
Fax: +61 8 9227 6788
AdultShop.com Announcement
---------------------------
AdultShop.com would like to advise that we have received confirmation
from our underwriters with respect to the Company's prospectus
dated 28th March 2000. Our underwriters have reassured us of their
full commitment and that they look forward to sharing in the success
of AdultShop.com.
The prospectus issue is fully sub-written by prominent European
Funds Managers including the Company's Switzerland based Director,
Mr Hans Rudolf Moser. The Company understands that the underwriter
has at this stage received assurances from these sub-underwriters
that they will continue to support the Company's rights issue.
Although a volatile time in the market, AdultShop.com has maintained
a strong position both from a financial and consumer perspective.
The Internet is a primary focus for AdultShop.com but it is important
to note that we also own and operate traditional businesses in
both retail and adult communication services from which we continue
to generate revenues and profits. This combined with the early
revenue trends from our benchmark website places the Company in
a very strong market position.
The Company is currently in the process of raising AUD$21.6 million
for further expansion to fulfil our stated aim of becoming a global,
market leader in adult product retailing.
Managing Director, Mr Malcolm Day is currently on an international
business trip to investigate acquisition opportunities in the United
States and the United Kingdom. In addition, the Company's European
Business Development Manager, Mr Christoph Thaller is currently
in Europe discussing strategic business acquisitions with a number
of companies.
AdultShop.com would like to thank you for your support.
Malcolm Day
Managing Director
AdultShop.com Limited
www.AdultShop.com
Tel: +61 8 9227 6777
Fax: +61 8 9227 6788
