4 Feb 2014

Share sales hailed by Snakk Media

12:46 pm on 4 February 2014

Snakk Media is welcoming the completion of the sales of two major stakes which it says have disproportionately depressed its share price.

The company says the sales by former shareholders SeaDragon and Snakk Trustees mean the company now has a far greater spread of new investors.

It says the vast majority of its shareholders understand the need to take a long-term view of a fast-growing company such as Snakk.

The company says its December revenue passed $1 million mark.

Snakk shares began trading at 6.5 cents in May last year and peaked at 15.5 cents in November.

The shares are currently trading at 10 cents.