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Spackman Equities Group Inc increases stake in Spackman Entertainment Group


Monday, 23 Dec 2013 09:57am EST 

Spackman Equities Group Inc:Says it has entered into a Share Sale and Purchase Agreement to sell all 198,000 shares, or 49.75 pct, of its ownership in Spackman Entertainment Korea Inc. (SEKI), for a consideration of C$880,000 in cash.Says as a result of this restructuring transaction, SEGL will now effectively own 100 pct of SEKI before its planned listing.Says in addition, SEGI announced that it will increase its ownership in SEGL by purchasing 800 newly issued shares of SEGL at $1,000 per share, in addition to the 6,930 SEGL shares it already owns, for a total subscription amount of $800,000.Says after the completion of this subscription, SEGI will own 7,730 shares, or 55.4 pct, of the 13,950 total issued and outstanding shares of SEGL. 

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