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In Newsroom
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Domenic CarosaText from the announcement released by Q Ltd on Friday, August 29, 2014

1. Acquisition of Crowd Mobile.com

Q Limited has entered into a binding term sheet to acquire 100% of the shares in a number of companies making up the Crowd Mobile group (Crowd Mobile).

Highlights:

  • Crowd Mobile is global mobile entertainment and micro job company.
  • In FY2014, Crowd Mobile derived $9.7m in revenue and $2.2m in EBITDA (unaudited management accounts).
  • The purchase consideration is $12,220,000, satisfied by the issue by Q of 2,444,000,000 fully paid ordinary shares at 0.5 cents each. The consideration represents a purchase price of approximately 5.6x FY14 EBITDA.
  • The share capital of Q will be consolidated on a ratio of 40:1 (subject to approval).

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In Alltraders
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Michael O'LoughlinAdelaide IT entrepreneur Michael O’Loughlin spent nearly two days last week without food to raise funds for the World Vision 40 Hour Famine.

Michael started his embargo on eating after he was roped in to support enthusiastic youngsters in the youth group of his local church who want to make the world a better place.

Michael said his 40-hour fast was intended to raise awareness as well as funds for World Vision. “I've decided to do my bit help bring hunger down by doing the 40 Hour Famine and raising money for World Vision's work in some of the poorest parts of the world,” he said.

“It seems a bit funny to try to reduce world hunger by going hungry, but it’s a great cause and I’ve had a lot of encouragement, much of it from friends who’ve informed me what they’re having for lunch.

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In Adelaide Resource Recovery
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Adelaide’s pioneering Wingfield Waste & Recycling Centre will showcase its environmental achievements as major sponsor for this year’s ENVIRO‘14 Conference and Exhibition.

A three-day national event run by the Australian Water Association (AWA) and Waste Management Association of Australia (WMAA), ENVIRO’14 is an environmental business conference and exhibition.

ENVIRO’14 Pathways for Better Business Conference & Exhibition will run at the Adelaide Convention Centre from September 17-19, attracting speakers from Australian and international environment and industry bodies.

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In Pottinger
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Pottinger Joint CEO Nigel LakeThe boards of ASX 200-listed companies have less than a one in eight chance of achieving gender equality in their membership by the year 2050, according to rigorous predictive statistical analysis by global advisory firm Pottinger.

Today, in launching its inaugural Equality Day Index, Pottinger has released a damning analysis of gender diversity for boards of Australia’s top 200 listed companies - that is, members of the ASX 200 index.

Pottinger Joint CEO Nigel Lake said the outcome of that analysis was shocking. “Based the analysis, ASX 200 Boards are never expected to reach 50:50 gender diversification,” he said.

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