News
For the latest happenings in Snowball and related entities
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Snowball’s operating performance improved markedly compared to the prior corresponding period. Operating EBITDA was up 14% to $4.79m.
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Today represents the next milestone in Snowball’s development. It marks an important step in Snowball’s plans for growth in a rapidly changing industry.
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I hope you have all had a chance to review the memorandum as it provides detailed information on Officium Capital and the reasons why the Directors believe the acquisition of Officium Capital is beneficial to Snowball.
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The following information regarding the results of the General Meeting of Snowball Group Limited held on 12 February 2010 is provided in accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act 2001 (Cth).
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General Meeting shareholders to consider the acquisition of Officium Capital Limited as announced on 18 December 2009, and a new Employee Incentive Plan and related resolutions.
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Snowball has entered into a binding agreement to acquire 100% of the issued share capital of Officium Capital for a total maximum consideration of $6.5 million, to be paid in cash.
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In our 2009 Annual Report we have noted our view that Snowball’s result was a solid one in the circumstances of the very challenging year, in terms of both markets and trading conditions.
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Snowball exceeds guidance through diversification & cost containment
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