Destra increases Quickflix stake to 19.9% Share swap with Illyria Pty Ltd 5th June, Australia; Australia’s largest independent digital media company, destra Corporation Limited (ASX:DES), announced today it had increased its stake in Quickflix (ASX:QFX) to 19.9%. The increased stake was facilitated via a share swap with Lachlan Murdoch’s Illyria Pty Ltd. Only last month, destra announced it had partnered with Magna Pacific (ASX: MPH) and Quickflix to deliver a pilot Video on Demand (VOD) service,www.destraMovies.com.
Illyria has sold 6,260,587 shares in Quickflix to destra in consideration for 4,173,725 new destra Corporation shares. The issue of new destra shares to Illyria will occur upon the passing of a resolution at a forthcoming EGM to be held on the 27th June 2007.
About Quickflix: Quickflix (www.quickflix.com.au) is Australia’s largest independent online movie subscription company, offering customers a choice of over 25,000 movie and TV series titles to rent or purchase, powerful search and browse of 50,000 actors and directors and personal recommendations. Quickflix offers a range of rental subscription plans with no deadlines or late fees and free home delivery. Quickflix services customers all across Australia, from service centres in Sydney, Melbourne, Gold Coast, Adelaide, and Perth. Quickflix is listed on the Australian Stock Exchange (ASX Code QFX).