Jumbo Interactive announces that it has completed the sale and buy-back of unmarketable parcels on behalf of 380 shareholders at a price of 27.8 cents per share in accordance with the notice dated 27 October 2011 sent to these shareholders. The number of shares involved was 330,024. Proceeds will be paid to affected shareholders not later than 23 December 2011.
Holders of unmarketable parcels were given six weeks in which to exclude their shares from the sale and buy-back process and 113 shareholders elected to retain their shares. 6 shareholders sold their shares during the period.
The sale and buy-back process has allowed the Company to reduce the total number of shareholders from 1,399 to 1,013 which will provide savings in ongoing share registry and shareholder communication costs that would otherwise be associated with these small holdings.
Following completion of the sale and buy-back process, and cancellation of the 330,024 shares bought back, the number of shares on issue is now 39,365,702.
For further information:
CEO and Executive Director
Ph: 07 3831 3705