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Next Media Ltd Announces Partial Completion Of Sale Of Next TV


Friday, 31 May 2013 12:03am EDT 

Next Media Ltd announced that with reference to the announcement made on earlier, in respect of disposal of the entire issued share capital of Next TV together with the Shareholders’ Loan being a discloseable transaction for the Company. The Company now announced that completion in respect of the transfer of 2,750,000 shares in Next TV (representing 55% of the entire issued share capital of Next TV) from NMBL to persons designated by Mr. Lien and the assignment of the full amount of the Shareholders’ Loan from NMBL and Max Growth has taken place on May 31, 2013 pursuant to the terms of the Sale and Purchase Agreement and the Shareholders’ Loan Assignment Agreement. In respect of the sale of the remaining 45% of the entire issued share capital of Next TV, Max Growth has submitted an application to IC seeking approval on the sale of its shareholdings of 2,250,000 shares in Next TV (representing 45% of the entire issued share capital of Next TV) to Mr. Lien. Upon receipt of the approval from IC, Max Growth will be in a position to complete the transfer of 2,250,000 shares to Mr. Lien in accordance with the terms of the Sale and Purchase Agreement. Immediately upon partial completion of the Sale and Purchase Agreement, the Group now retains 45% of the entire issued share capital of Next TV which has ceased to be a subsidiary of the Company. 

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19 Dec 2014