Hi Frankly,I like this paragraph..
"In accordance with the share purchase agreement, SEG will change its name to Sun New Media, Inc. undergo a 1 share for 2 shares (1:2) reverse split, and issue 55 million post-consolidated shares to SMIH and related parties in exchange for 100% ownership of SNMG. SMIH will also guarantee a profit of no less then US $3 million within the next fiscal year. Any short fall on the net income will be assumed and compensated by SMIH."
So CPT will hold over 7 million shares of the new "Sun New Media" company. This is about 13 percent of the new Company.Along with its SEG trading assets will also hold this..
"The acquisition of SNMG brings two key sets of assets under the control of SEG, potentially increasing value for current shareholders and diversifying sources of income for the company. First, SNMG controls Compass Multi-Media Inc, an innovative online interactive marketer, which targets corporate communications, product promotion and consumer online publishing sectors in China. Second, SNM holds the program distribution and licensing rights to all the television programs produced and owned by SMIH and certain subsidiaries. The program distribution rights include a number of highly popular television programs aired in China such as Yang Lan One on One, C'est La Vie Daily, 66 Places of a Lifetime, and Olympics & Me, many of which feature leading Chinese television personality Ms. Yang Lan."
These 7 million shares that CPT owns can be sold into the future as profit for cpt as in beararms scenario on stockhouse yesterday.
gg
cag-global.com |
