• CREDITORS OF SUBSIDIARY (MANACCOM PTY LTD) ACCEPT DEED OF COMPANY ARRANGEMENT.
• THE PROCESS OF CLOSING THIS SUBSIDIARY IS EXPECTED TO BE WRAPPED UP QUICKLY.
As part of the process to close its underperforming division and increase the focus on its successful Internet Lottery business, Jumbo Interactive Limited (ASX: “JIN”) today announced that Creditors voted to accept the Company’s Deed of Company Arrangement (DoCA).
The subsidiary (Manaccom Pty Ltd) was placed into Voluntary Administration on 31 January 2011 and Jumbo offered a cash contribution of $500,000 to a fund to pay the unsecured creditors.
Operations of the Internet Lotteries business are not affected.
“Now that creditors have accepted the DoCA, the process of closing this underperforming division is expected to be wrapped up quickly”, said Mr Mike Veverka, CEO of Jumbo Interactive Limited.
For further information:
CEO and Executive Director
Ph: 07 3831 3705