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Royal Bank of Canada Message Board

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  • birch88k birch88k Aug 23, 1999 9:49 PM Flag

    A great IPO

    don't fall for hype, check this site^^^^

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    • always temp. Problem
      i cannt see order status

    • For some of you, this will be old news. However,
      I think it's worth reminding ourselves at times
      what great potential there is in this stock. Royal
      Bank has a number one team out there and will do very
      well in the future. Check out their investor relations
      page and you'll find the complete story. Have to go
      back to March 9/98.
      Date: March 9, 1998


      Released by: Security First Technologies

      ATLANTA,
      March 9, 1998�Security First Network Bank today
      announced that Royal Bank of Canada through one of its U.S.
      based subsidiaries ("Royal Bank"), has agreed to
      acquire the banking operations of Atlanta-based SFNB, the
      world's first Internet
      bank. In addition, Royal Bank
      has entered into technology licensing and consulting
      agreements with S1 effective upon acquisition of the banking
      operations, agreed to purchase stock in SFNB and acquire an
      option to purchase stock in the Company in the future.



      Transaction Details
      The total
      transaction cost to Royal Bank is US$20 million. Royal Bank
      will purchase SFNB for US$13 million; process SFNB
      Internet transactions through the S1 Data Center; license
      S1 technology and consulting services for US$6
      million; and purchase 92,593 shares of stock for US$1
      million.
      Additionally, Royal Bank has been granted an
      option to purchase an additional 733,597 shares of stock
      for US$10 million over a period of 21 months from the
      date of closing the banking operations transaction.
      Royal Bank also has purchased the right to future
      international software development and consulting services.



      In addition to the bank transaction, Royal
      Bank has entered into the STAR program through its
      acquisition of Virtual Financial Managertm software licenses.
      Involvement in the STAR program includes a seat on the S1
      Board of Directors and participation with other
      industry leaders in the development of current and future
      S1 software products. S1's STAR program is a
      technology licensing agreement between S1 and five financial
      institutions to involve them in further development of S1'
      applications.



      Security First Technologies
      (S1) is a wholly-owned subsidiary of the world's first
      Internet bank, Security First Network Bank. Security First
      Technologies develops integrated, brandable Internet
      applications that enable financial institutions to offer
      products, services and transactions over the Internet in a
      secure environment. S1 also offers strategic business
      consulting and marketing support, training, product
      integration, and customer and data service center outsourcing.
      Security First Technologies, through direct sales and
      channel
      partnerships, has agreed to provide software applications and
      technologyto 66 financial entities, including 15 of the top
      100 U.S. financial institutions.

 
RY
73.15-0.55(-0.75%)Nov 28 1:02 PMEST

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