Agritrade Resources Limited
Agritrade Resources Enters into an MOU to Exploit the Advertising Agency Business
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Agritrade Resources Enters into an MOU (3 July 2015) Agritrade Resources Limited (“Agritrade Resources” or the “Company”, and its subsidiaries, the “Group”, HKSE Stock Code: 1131) is pleased to announce that Xinlian, a wholly-owned subsidiary of the Company, entered into the non-legally binding MOU with Silver Golden and HKM Media in relation to a possible investment in HKM media. The consideration of the MOU is expected to be not less than HK$100 million and not more than HK$ 120 million. HKM Media is principally engaged in the one-stop advertising agency business in Hong Kong and the PRC involving advertisement production, management and marketing services to a number of household names in Hong Kong. HKM Media has become the exclusive advertising agency for 20 Guangzhou-Shenzhen Hexiehao (和諧號) high speed bullet trains for the period from 1 July 2014 up to 30 June 2017 and has a priority right to extend for another 3 years. Mr. Ng Xinwei, the Executive Director and CEO of Agritrade Resources, said, “Our China Division was set up in April 2015 with the objective to explore China projects with promising prospects which can bring immediate contribution to the Group. Considering the exclusive advertising agency status of HKM Media for 20 Guangzhou-Shenzhen Hexiehao high speed bullet trains, the targeted audience to the on-train advertisements will be over 40 million annually. We are optimistic about the prospect of HKM Media. We believe that the transaction will be able to provide immediate and promising financial contribution to the Group as well as further diversify the business of the Group in terms of location and business nature to mitigate the operation risks caused by pure-play business model.” -END- About Agritrade Resources Limited (HKSE Stock Code: 1131) Company website: www.agritraderesources.com Issued by Financial PR (HK) Limited For further information, please contact:
End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=FMKDTBJWXF Document title: Agritrade Resources Enters into an MOU to Exploit the Advertising Agency Business Key word(s): Miscellaneous 03/07/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
374905 03/07/2015 UTC+8 |