ASX RELEASE #8211; Wednesday 29th March 2006 Global Signs Agreement To Create One Of Australia�fs Premier Online Gaming Companies
Jumbo Corporation Limited (ASX:JUM) is a substantial shareholder of Global Approach Limited (ASX:GLO) with 17.4% of the shares. GLO today announced that it had signed a Heads of Agreement to create one of Australia�fs premier online gaming companies.
�gGLO will not only grow substantially with this acquisition, but also take a stronger focus on online poker with a stable base of profitable online casinos�h, said Mr Mike Veverka, CEO of Jumbo Corporation Liminted.
�gThe number of depositing players will triple, the portfolio of online casinos and poker rooms will expand and both the net assets and earnings will improve substantially�h, he said.
Mr Mike Veverka, CEO of Jumbo and Alan Phillips, Chairman of Jumbo are both non-executive directors of Global Approach Limited. Jumbo Corporation Limited currently holds 11.2 million ordinary shares (17.4%) of the fully paid ordinary shares in GLO. The full GLO announcement is attached.
JUM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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