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Newcall Group Shareholders Approve Initiatives

Media Release 4 May 2004

Newcall Group Shareholders Approve Initiatives At Agm

Newcall CEO, Jim Bracknell, told shareholders at the group’s recent Annual General Meeting that several transactions were being ‘aggressively examined’ which would, if completed, secure the future of the company. He said that unless the group was acquired, or completed a merger or acquisition, it would not be profitable in the current year following the sale of all of its revenue generating assets. At the same time, he confirmed that Newcall was now free of all debt and had cash in the bank.

Also at the AGM, held on 29 April 2004, Newcall shareholders unanimously approved the election of David Sun as director. The automatic reappointment of BDO Spicers as auditors was also approved, with two shareholders voting by proxy against the automatic reappointment.

Responding to questions from the floor on the spin-offs from Newcall, Mr Bracknell explained that all information regarding the spin-offs was posted on the Newcall web site. He said the company did not intend creating a market in the shares of the spin-offs, with confirmation of shareholdings being made on request.

Ends


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