Webcentral Ltd (AU:5GN) has released an update.
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5G Networks Limited has appointed Hugh Robertson as an independent non-executive director, who will also become Chair following the company’s AGM. The company has terminated previously proposed sale agreements due to unmet conditions and shareholder opposition, opting instead to focus on strategic acquisitions supported by improved market conditions and a favorable tax position. Additionally, a potential buyback of up to 100 million shares is set to be proposed to shareholders, offering an alternative for those wishing to exit their holdings.
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