Brisbane, Dec 3 (Asia Pulse) - Australia's Wine Planet Holdings Ltd, through subsidiary Ewines Pty Ltd, has entered into an agreement with E Com Industries Pty Ltd to form an Internet business alliance.
E Com Industries Pty Limited operates the Giftvouchers.com internet site which provides on line gift vouchers redeemable with participating retailers. Wine Planet said in a statement that the Giftvouchers.com concept had global applications as it was a true e-commerce function without the constraints of supplying physical goods.
Wine Planet believes that the business alliance will generate both additional revenue and traffic for the Wine Planet site and will be an enhancement of the Wine Planet e-commerce offering. Wineplanet.com.au will be the exclusive online liquor supplier to the Giftvouchers.com.au site in Australia. Links between the sites will be developed.
Under the agreement E Com Industries Pty Ltd will develop, market and promote Wine Planet gift vouchers. An option has been granted to Ewines Pty Limited to acquire up to five per cent of the issued capital of E Com Industries Pty Limited.
A further option has been granted to acquire 2.5 per cent of the issued capital in the event of that company preceding to an initial public offering or other capital raising. At 1036 Wine Planet shares were 1.5 cents higher at 27.5 cents.