Notice of Annual General Meeting - October 2007

Oct 18, 2007

ASX RELEASE – Thursday, 18th October 2007

An Annual General Meeting has been called for 22 November 2007 to give shareholders the opportunity to vote on a number of Resolutions including a change of Company name and a consolidation of capital.

The Company name is proposed to be changed to Manaccom Corporation Limited to reflect the contribution that the newly acquired Manaccom business will have to the Company. A 1 for 10 consolidation of capital is proposed to reduce shareholder-related costs. If approved, the number of shares will be consolidated from 448 million shares to 44.8 million. This would have the effect of reducing the number of shares held by each shareholder by a factor of 10, but with an accompanying share price adjustment. The percentage that each shareholder holds of the company will remain the same. This would also have the effect of consolidating the 16.25 million 10c employee options into 1.625 million options with an exercise price of $1.00.   Changes to the Board of Directors and Company Officers In keeping with the Company’s new direction, the Company proposes to realign the Board of Directors and Company officers as follows.

  • Mr Alan Phillips will retire as chairman and non-executive director at the AGM. Mr Phillips has been chairman since 2000 and was instrumental in the restructuring of the Company.
  • Mr David Barwick offers himself for re-election as a non- executive director and if approved, will become chairman.
  • Mr Jon Starink has tendered his resignation as non-executive director effective at the close of the Annual General Meeting. Mr Starink was appointed to the board in August 2006.
  • Mr Ian Mackay offers himself for re-election as a non-executive director. Mr Mackay was the founder of Manaccom Pty Ltd that was recently acquired by Jumbo. Mr Mackay is a significant shareholder with approximately 19% of the shares.
  • Mr Mike Veverka will continue as executive director and Chief Executive Officer. Mr Veverka has been CEO of Jumbo Corporation Limited since the restructuring in 1999 and is a significant shareholder with approximately 19% of the shares.
  • Mr David Taplin has resigned as Company Secretary and Chief Financial Officer (see below).

  Mr Bill Lyne has been appointed the Company Secretary. Mr Lyne is the principal of Australian Company Secretary Service, providing company secretarial, compliance and governance services to public and other companies. He is Secretary of a number of listed companies and brings to Jumbo a wealth of experience in corporate governance principles and practice. Bill holds a Bachelor of Commerce (Economics) degree and is a Chartered Accountant. He is a Fellow of Chartered Secretaries Australia and a presenter at professional courses in company secretarial practice. In addition to these board changes, Mr David Todd was appointed Chief Financial Officer on 16 October 2007. David has extensive experience with corporate finance predominantly through an international career in banking with Nedbank in South Africa, Westpac in New Zealand and CBA in Australia. Prior to joining Jumbo, he worked as the Chief Financial Officer and Company Secretary of a privately owned Australian group of companies. David's formal qualifications include a Diploma in Banking, Bachelor of Commerce, and Master of Business Administration. The Board wishes to thank Mr Phillips and Mr Starink for their valuable contributions during their tenure.   Jumbo Corporation Limited also announces the resignation of Mr David Taplin as Chief Financial Officer and Company Secretary, effective 19 October 2007. The Board wishes to thank Mr Taplin for his significant contribution to the business during a growth phase of the Company’s evolution and wishes him well with his future endeavours. Mr Taplin, as the Company’s inaugural CFO, as well as Company Secretary, has considerably enhanced the Company’s finance and governance functions, establishing a solid platform for future growth. Mr Taplin will remain with the Company for a period of up to 6 months to allow an orderly transition of Chief Financial Officer and Company Secretarial responsibilities.   For further Information: Mike Veverka CEO, Jumbo Corporation (07) 3831 3705


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