25 February 2004 12:00am

The vendors of Electronic Banking Systems collected some a partial bonus in connection with the sake of EBS to Cashcard.

Documents lodged with the Australian Securities and Investments Commission show that last month Cashcard issues $1 million worth of free shares to the 40 odd investors in EBS who sold the company to Cashcard in October 2002.

Cashcard, and a few recipients of these shares, either couldn't be contacted or didn't want explain this share issue yesterday.

The merger agreement provided for payment of a bonus to the vendors of EBS, linked to the...