1. the Proposed Transaction
EFTEL LIMITED ACN 073 238 178 NOTICE OF GENERAL MEETING, EXPLANATORY STATEMENT AND INDEPENDENT EXPERT’S REPORT TIME : 10.00am (WST) DATE : 29 June 2011 PLACE : Citigate Hotel 707 Wellington St PERTH WESTERN AUSTRALIA This Notice of Meeti ng , Explanatory Statement and Independent Expert’s Report should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their professional advisors prior to voting. For personal use only Should you wish to discuss the matters in this Notice of Meeting, Explanatory Statement or Independent Expert’s Report please do not hesitate to contact the Company Secretary, Mr John Raftis on (+61 8) 9420 9999. 26 May 2011 Dear Fellow Shareholder Re: Major Transaction On 8 April, your company Eftel Limited ( ASX: EFT ) announced an in principle agreement to purchase ClubTelco Pty Ltd, a national ISP with offices in Queensland, Victoria and the Philippines. A formal transaction agreement was entered into on 18 April 2011. ClubTelco is a very similar business to Eftel. It delivers around 60,000 services, including ADSL, fixed line telephony, VoIP, mobile broadband and mobile telephony, and generates approximately $28M annual turnover. ClubTelco was formed by the founders and directors of Dodo, Australia’s largest privately held telecommunications company, who have been an Eftel partner since 2008. The transaction, which is subject to Eftel shareholder approval, will see your company double in size to 120,000 active services and in excess of $55M annual turnover. The combined entity will employ more than 300 people located across offices in Manila, Kuala Lumpur, Melbourne, the Gold Coast and Perth.
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