Market briefs: Runge, Two Way, Vocus, Jumbo

Runge managing director resigns after 20 years; Two Way adds fixed odds to TV wagering service; Vocus shares soar before company enters trading halt; 500k Jumbo ESOP options expire

Runge managing director resigns

Mining industry technology services company, Runge (ASX:RUL), has announced the resignation of managing director, Tony Kinnane.

Kinnane, who is resigning for health reasons, has been in the managing director post for the past 20 years and with the company for the last 25. His final day as managing director will be on March 31.

Runge said it will look both internally and externally for a replacement, using a specialist executive search agency.

RUL shares fell 2.04 per cent on Thursday to $0.480.

Two Way adds fixed odds betting to TAB ACTIVE

Interactive media and gambling application developer, Two Way Limited (ASX:TTV), has added fixed-odds wagering to its TV betting service after a technology upgrade from partner Tabcorp.

Two Way's TAB ACTIVE service now allows Foxtel users to switch between tote and fixed odds betting on supported races at the press of a button, the company said.

All of Tabcorp's recent turnover growth has come from fixed-odds betting – revenue from this stream grew 48 per cent in 2H10, compared to a 3.3 per cent decline in tote betting.

TTV shares grew 7.14 per cent to $0.030 on Thursday after the announcement was made.

Vocus shares soar prior to entering trading halt

Wholesale telecom services provider, Vocus (ASX:VOC), has entered a trading halt while it prepares an announcement.

Vocus has requested the trading halt while it prepares to reveal the outcome of a capital raising which started on Thursday.

VOC shares climbed 13.45 per cent on Thursday before the trading halt took effect.

Jumbo reveals lapse of 550k options

Internet lottery and gaming company, Jumbo Interactive (ASX:JMB), has announced the lapse of 550,000 options.

Jumbo said the options, which had been issued to employees under an employee share option plan, went unexercised following staff changes.

The company added that 4.7 million options are still on issue under the plan, expiring at various dates up until February 2014.

JIN shares slumped 5.6 per cent during Thursday's trading to $0.340.

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