15/11/2007 - 15:36

IBT Education becomes navitas

15/11/2007 - 15:36

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Education services company IBT Education Ltd today won shareholder approval to change its name to navitas, through the proposal did attract a sizeable protest vote.

IBT Education becomes navitas

Education services company IBT Education Ltd today won shareholder approval to change its name to navitas, through the proposal did attract a sizeable protest vote.

The Churchlands-based company said the IBT name had wide market recognition but was too generic to enjoy legal protection.

The company said it hired a professional branding agency to assit in coming up with the new name.

"Key criteria for the new brand were that it would distinguish the group and make us internationally recognisable, and that it would transcend the varied cultures in which we operate," company chairman Harvey Collins told the annual general meeting today.

"We believe the name is distinctive, confident and progressive."

Not all shareholders agreed - 12.1 million shares, or about 7.4 per cent of the total shares on issue, voted against the change.

The directors will be hopng shareholders warm to the change. Based on past experience, that is likely. Alinta and Iluka Resources seemed like strange names when they were first conceived but are now widely accepted.

 

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