Quokka Sports, Inc. (Nasdaq: QKKA), a leading provider of sports entertainment for the digital world(TM), announced today that its stockholders voted in favor of a 1-for-50 reverse stock split approved by the company’s board of directors in January 2001. The company’s common stock will begin trading on a post-split basis at the open of the market on April 16, 2001.
As of April 16, 2001, U.S. Stock Transfer Corporation of Glendale, California will act as the Company’s transfer agent and will be the exchange agent for the purpose of implementing the exchange of stock certificates in relation to the reverse stock split.
Additional measures approved by stockholders include an amendment to the Company’s Certificate of Incorporation to decrease the number of authorized shares of Quokka Common stock to 10 million shares, re-election of board member Walter W. Bregman through 2004, and ratification of the Company’s independent auditors, PricewatershouseCoopers LLP for the fiscal year 2001.
Quokka Sports, a leading provider of sports entertainment for the digital world(TM), creates complete interactive sports experiences that fulfill the passions of sports enthusiasts worldwide. Quokka Sports (Quokka.com) leverages digital technology to offer rich, immersive presentations that include live event coverage, analysis, news and information, audio and text dispatches from athletes, games, community forums, and premium shopping. The Quokka Sports Network is comprised of several sport verticals that feature some of the world’s premier sporting properties.
Quokka Sports’ media business, the Quokka Sports Network, focuses on event-centric programming with emphasis on the production of live sport events, including Golf (Golf.com, PresidentsCup.com), Major League Baseball (TotalBaseball.com), College Sports (FinalFour.net, TotalCollegeSports.com and NCAAChampionships.com), year-round coverage of summer and winter Olympic sports (NBCOlympics.com, SaltLake2002.com), Sailing (AmericasCup.org, BTChallenge.com), and Action Sports (MountainZone.com coverage of skiing, climbing, hiking, snowboarding, adventure racing and mountain biking).
The Company’s proprietary technology and publishing platform infrastructure is utilized for its live sport event coverage, and in addition, has recently begun operating as a separate business unit, providing managed services for companies needing to create rich content for the Internet, broadband, Interactive/Enhanced TV and wireless platforms. Quokka Sports has offices in San Francisco, London, New York, and Raleigh.
For further information, please contact:
Kate Rajeck
Press and Investors, Quokka Sports Inc.
Tel: +1 415 908 3800
E-mail: investor.relations@quokka.com/