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Kaboose Reports on Annual Shareholders' Meeting
May 16, 2008 (08:05 AM EDT)
TORONTO, May 16 /PRNewswire-FirstCall/ - Kaboose Inc. , one of the largest family-focused new media companies in the world, held its third annual meeting of shareholders yesterday, May 15, 2008, in Toronto, Canada.
Results of the Meeting Kaboose Shareholders voted to: - Re-elect the following directors to serve a one-year term: - Jason DeZwirek, Chairman & Chief Executive Officer; - Bernie Kraft, Director & Chairman of the Audit Committee; - Daniel Ambrose, Director; - Jonathan Graff, Director; and - Michael Winton, Director; - Re-appoint Ernst & Young LLP as auditors for Kaboose for 2008; and - Authorize certain amendments to Kaboose's stock incentive plan.
Following the formal portion of the meeting, Mr. DeZwirek discussed the evolution of Kaboose into a truly international organization with operations in the United Kingdom, the United States and Canada. He also reviewed the Company's progress, highlighting the revenue and EBITDA growth in the first quarter of 2008.
Additionally, further to the normal course issuer bid announced March 7, 2008, to date the Company has purchased 1,110,499 shares in the open market at an average price of $0.93. The repurchased shares were subsequently cancelled.
About Kaboose Inc.
Kaboose is one of the largest family-focused new media companies in the world and one of the top-five most visited family destinations online. From pregnancy to parenting, birthday parties to scrapbooking, and entertainment to education, Kaboose has the content and applications to help parents plan and share their family life. Kaboose owns some of the world's leading online properties targeting families, including Bounty.com, BabyZone.com, Kaboose.com, AmazingMoms.com, TwoPeasInABucket.com, BubbleShare.com, BirthdayInABox.com, Funschool.com and Zeeks.com. Kaboose trades on the Toronto Stock Exchange under the symbol "KAB."
This document may contain forward-looking statements relating to Kaboose Inc.'s operations or to the environment in which it operates, which are based on Kaboose Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Kaboose Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Kaboose Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Jonathan Pollack, Chief Financial Officer, TEL: (416) 593-3000,FAX: (416) 593-4658