Leading Australian e-commerce company, Jumbo Corporation Limited (ASX: JUM), announced today that it has sold its shareholding in Global Approach Limited (ASX: GLO). Jumbo’s shareholding of 21,778,817 ordinary shares were sold on market for $1,088,941 less brokerage costs.
As announced on 25 June 2007, Jumbo has entered into a conditional Heads of Agreement to acquire Manaccom, a specialist software publishing and distribution business. The Directors of Jumbo Corporation believe that the funds from the sale ($1,088,941 gross) will be more beneficial to the Company to be utilised in the acquisition of Manaccom, which is a mature profitable growing business.
David Taplin, Company Secretary