An announcement made by World Audio Group Chairman Peter Solomon at the company’s Annual General Meeting said that
Graeme Logan “has decided not to pursue his board position as a director of WorldAudio Limited, effective today”.

Logan will continue his commitment and involvement in WorldAudio Limited through a Consulting Agreement which his company has with WorldAudio.

Logan’s decision not to be re-elected is “due to his considerable international business and media interests together with his current and future commitments.”

Graeme Logan was the co-founder and original seed capital investor in WorldAudio Communications Pty Limited and Radio Two Pty Limited. Through his investment company, Perabo Investment Corporation Pty Limited, is the second largest single shareholder in WorldAudio Limited. He will “continue his support and commitment towards his company.”