CIO

Quickflix calls GM to ratify $1.4m share placement

Online movie rental company has called a general meeting to ask shareholders to approve a $1.4 million share placement.

The company has arranged to place 24 million shares at $0.06 per share, but now requires post-factual shareholder approval under ASX listing rules.

Shareholders will also be asked to approve the issue of 821,000 shares at $0.05 per share to various creditors of the company, and yet more shares to various employees, directors and consultants.