Baar (pts035/20.06.2007/13:55) Qino Flagship acquired 1,080,000 shares in IP telephony pioneer Jajah Inc., representing approximately 2.81% of the company. The transaction follows a Series C investment round of USD 20 Mio. in which Deutsche Telekom and Intel Corp. have entered a shareholding in Jajah Inc. The direct and indirect Jajah stake of Qino Flagship hence increased to 7.75%. Details of the transaction have been agreed to be kept confidential.
The indirect Jajah stake of Qino Flagship has not changed in absolute terms and refers to 1,894,468 Jajah shares, representing 4.94% of the company. These shares have been transferred to a trust account. Any proceeds from the sale of these shares (whether cash or shares, deducted by direct transaction expenses) shall be transferred to Qino Flagship. In the case of a stock exchange floatation of Jajah Inc., these shares shall be transferred to Qino Flagship after expiration of appropriate lock-up periods.
About JAJAH Inc:
JAJAH (http://www.jajah.com) is the world's most innovative phone company dedicated to bringing users vastly improved telephony solutions at a fraction of the traditional price. JAJAH enables consumers to make free and low-cost telephone calls, locally or globally, dialling from either their computers or mobile phones. By combining the best of the Internet with the best of the existing telephony infrastructure, JAJAH removes the barriers to communication and makes it easier for people everywhere to stay in touch. JAJAH was founded in 2005, and has offices in Mountain View, California, and in Luxembourg.
About QINO Flagship AG:
The purpose of the Company is the acquisition, sale, stock market listing and promotion of meaningful stakes in technology oriented companies with an European background. Currently QINO Flagship AG holds via its subsidiaries a 11.3% stake in Pankl Racing Systems AG, a 14.0% stake in Update Software AG as well as a stake of about 7.8% in Jajah Inc. The shares of the Company are traded in the unregulated OTC market segments of the Vienna, Berlin, Munich and Frankfurt Stock Exchanges.