Baycorp Advantage is to be renamed Veda Advantage, following a vote by shareholders at the company’s Annual General Meeting. The renaming follows the sale of the Baycorp brand to Trans Tasman Collections in June for $A 97million with the debt collection business Baycorp Advantage Collections Services. Baycorp Advantage Chairman Glenn Barnes says that selling the Baycorp name and brand with the business offered a unique opportunity to maximize the value on sale. (BIIA NEWSLETTER JUNE 01-06).

The company will continue trading as Baycorp Advantage until February next year, when the company will issue new marketing and other collateral, change its website and alter IT systems to adopt the Veda Advantage brand name. Shareholders also approved a 35 cents-per-share capital return, totaling $79 million, out of the proceeds of the Baycorp sale. Source: BaycorpAdvantage 27 Oct. 2006

BIIA Newsletter October – 2006 Issue