Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Following its announcement last week that it faced a $3.2m law suit from is VoIP partner, Transcom International, Chariot has moved to refute claims by Transcom that it mislead the market.
In November 2004 Chariot agreed to pay $5 million to Transcom, for an 80 percent shareholding in Transcom Australasia Pty Ltd, the licensee for the Transcom VoIP technology for the region, and for a 37.74 percent equity interest in Transcom Australasia's parent entity, Transcom International, which planned to license the system and its associated softswitch technology in more than 60 countries.
According to an undated press release on the Transcom International web site, as a result of delays in Chariot launching the service in Australia, Transcom International assumed 100 percent ownership of Transcom Australasia and granted to Chariot a wholesale license. At the same time Chariot had invested a further $1 million in Transcom International.
According to press reports, Transcom has accused Chariot of misleading the market by not disclosing this change in shareholding. Chariot has responded with an letter to the ASX in which it said: "In relation to comments reported in media coverage this week and attributed to Transcom Australasia Pty Ltd, Chariot Limited refutes without reservation, any suggestion by Transcom that Chariot has misled the market or shareholders.
"Chariot and its directors will not only vigorously defend the legal proceedings which they regard as without foundation but will also take such action as they may be advised to protect the company and shareholders from Transcom's actions and claims."
Chariot did issue an announcement to the ASX in September 2005 in which it hinted at the changes claimed by Transcom: "Chariot will now move to an approximate 41 percent interest in Transcom International, which will have ownership of the roll-out of Linqk [VoIP service] at the retail level throughout Australia, from its offices in Brisbane.
"In addition, Chariot will roll out the Transcom product under its own 'Chariot VoIP' brand on a retail basis to its own customers, as well as providing Transcom VoIP as a wholesale service to smaller telcos and ISPs in Australia wishing to deploy a VoIP product under their own brand."
iTWire asked Chariot secretary Garry Hersey if the equity change described in the Transcom press release had in fact taken place, but he declined to comment.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
How to Make Business Discovery Work for Your Business
Business Discovery takes its cues from consumer apps. Like Google, it encourages us- ers to hunt for and explore data without worrying about or even noticing the underly- ing technology. Their entire experience is working within an intuitive interface to get real-time, self-service results with only minimal training. ...more
Try an easy-to-use set of web-enabled
tools for business-class productivity services. Office 365 provides
anywhere-access to email, important documents, contacts, and calendars
on almost any device.
Latest Headlines from IT INDUSTRY
