ASIASONS Capital has signed an agreement with Balhetchet Caesar Kevin to buy his 30 per cent stake in Hub Media Group for US$4.5 million.
Asiasons already has a 70 per cent stake in Hub Media, also acquired from Mr Balhetchet last April, meaning it will now fully own the film content distributor.
The consideration will be paid in full with an issue of 117.7 million new shares at 4.8 cents each - a 1.27 per cent premium to its full-day volume weighted average price of 4.74 cents yesterday. The issue size represents about 10.73 per cent of its enlarged issued share capital.
Asiasons said the acquisition will enable it to use Hub Media as a platform to enhance its business in the entertainment and media industry.
No comments:
Post a Comment