Merkin Group entity BoxRED sells its stake in Trader Dealer

Merkin Group entity BoxRED sells its stake in Trader Dealer online to MDS Financial in return for 10,727,200 shares in MWS.AX plus an earnout on 1 July 2010 for further shares or for cash in the event of a change of control in MDS.

Please refer to the attached Announcement to the Australian Stock Exchange.

BoxRED and its parent The Merkin Group maintain committed to MDS with a substantially increased stake in the business post this deal and Sean Rothsey remains as Chairman of both companies and sees the development as a way to dramatically grow and add value both to the businesses and the share price of the listed entity .

Further details will be announced once the deal is concluded and a further Announcement has been made to the Australian Stock Exchange.

Sean Rothsey
Chairman

Read the full announcement here