INDEPENDENT NEWS

Eforce goes live to begin membership registration

Published: Mon 20 Dec 1999 11:09 AM
The Eforce e-commerce site – www.eforce.co.nz – has launched today to receive membership registrations.
Eforce is a new concept in New Zealand e-commerce. Unlike sites that are online versions of traditional retail outlets, Eforce is a consumer-focused portal that exists for the benefits of its community members.
“Eforce is an infomediary - an online entity between consumers and retailers,” says Mark Fulton, Managing Director of Eforce Limited.
“By inviting users to register as Eforce members, Eforce is constructing a powerful online community that will have a strong combined purchasing power.
“Our sole purpose will be to identify and communicate opportunities to allow community members to buy products and services at reduced prices or save money on existing services, “ says Mr Fulton. “Because members supply Eforce with information about themselves, we will be able to send them news of products and services that they will be interested in.”
Mr Fulton says that Eforce will be the first ‘Win Win’ consumer information portal in New Zealand. As well as the Eforce’s purchasing opportunities, it is proposed that members will be able to participate in the success of the company through the issue of share warrants.
“No other e-commerce business in New Zealand is enabling its members to also participate as shareholders in the company.
“The proposed share warrant offer is a natural extension of the membership and online community concepts that are the core of Eforce.”
Eforce Limited has a conditional purchase agreement with Paynter Timber Group Limited (PTGL) which is divesting itself of its current interests to invest in New Zealand’s growing e-commerce sector.
Subject to PTGL shareholder approval at an EGM scheduled for the end of February 2000, PTGL will purchase Eforce from its shareholders. PTGL will also rename itself as Eforce Limited. Mark Fulton will become Chief Executive of the publicly listed company.
If approval to proceed is granted, a prospectus and investment statement detailing the Eforce share warrant offer will be issued.
The first 50,000 Eforce members will be eligible to apply for share warrants.
“Individual Eforce members can win with the products and services we offer. They also have the opportunity to share in the success of Eforce Limited as it develops in the e-commerce market,” says Mr Fulton.
Mr Fulton stresses that there is no obligation to purchase share warrants as a result of registering interest. “Full details on how to apply for the share warrants will be in the prospectus and investment statement.”
Eforce’s activities will not be restricted to any particular area of consumer products or services. Initial products and services will be detailed in the prospectus and investment statements.
Mr Fulton has a background in finance and marketing and was recently US Financial Controller for a multi-national New Zealand company. He has owned his own consulting business. He will receive $250,000 plus one million shares and 2 million options in PTGL at a price of 25 cents each for the purchase of Eforce Limited.
ends
For more information contact:
Bert Aldridge or Rachel Catanach
Ph 64 4 4999-111
More information on the proposed share offer can be found at www.eforce.co.nz/offer.html.

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