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- Release Date: 13/01/14 18:59
- Summary: GENERAL: SNK: Snakk Chair completes initial share transfer to foundation
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SNK
13/01/2014 16:59
GENERAL
REL: 1659 HRS Snakk Media Limited
GENERAL: SNK: Snakk Chair completes initial share transfer to foundation
SNK - Market information
13 January 2014
Snakk Chair completes initial share transfer to foundation
Snakk Media (SNK) advises that Chair and Co-Founder Derek Handley has
completed the transfer of 2 million shares to his personal charitable
foundation in an off-market transaction as per his previous guidance at the
Snakk AGM in August 2013.
In addition, Derek has indicated to the Snakk Board that he has begun to
transfer approximately 10% of his Snakk holdings (as at January 2014) to The
Handley Foundation, a range of other charities and private placements to
investors through a combination of on and off-market transfers.
Transfers totalling 1,466,187 have already taken place, leaving interests
associated with Derek Handley's holding at 41,132,634 (15.6%) as at Jan 13
2014.
Derek Handley said, "I remain committed to the success of Snakk and retain a
hugely positive outlook on its future as we continue to break revenue records
each quarter. Snakk is one of my largest individual investments and after a
fantastic 2013 I am taking the opportunity to redirect some of my holdings to
worthy social initiatives in 2014 and balance my portfolio."
The SSH Notice for Far East Associated Traders Limited is attached.
ENDS
Malcolm Lindeque, Company Secretary, 021 464 392, [email protected],
www.snk.co.nz, www.twitter.com/snakkir
About Snakk Media Limited
NZAX-listed Snakk Media helps brands find and reach consumers using apps,
games and social media on their smartphones, tablets and other smart screens.
The company generates revenue every time it successfully targets and delivers
an ad across its networks of mobile websites, apps and games. The ads are
targeted to ensure the right audiences see them at the right time and place.
Snakk is one of the first publicly listed companies in the world that has met
the rigorous social and environmental performance standards required to
become a certified B Corporation.
End CA:00246003 For:SNK Type:GENERAL Time:2014-01-13 16:59:06
