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 [ 27-28 June 2000 ] CommerceNet Singapore Members to Co-own CaseTrust Limited

CommerceNet Singapore members welcomed the move to spin-off CaseTrust Limited. In a two days meeting held at Goodwood Park Hotel, more than 75% of CommerceNet Singapore members turned up to listen and deliberate on the proposal. The move is expected to further free up CommerceNet Singaporeís resources to work on other projects.

All members are entitled to predetermined allocations of shares, in accordance to their membership status. Upon the completion of the allocation, CaseTrust Limited will be able to operate effectively as an independent entity owned by CommerceNet Singapore members. CaseTrust Limited was earlier reported as intending to seek IPO by next year.

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