1. Mr Melvin Ang sells 10 million vendor shares to Mr Timothy Mou, co-founder of Fan Bingbing Studio and a veteran in the Chinese film & TV industry
2. As a shareholder, Mr Timothy Mou will help to enhance mm2 Asia’s presence in North Asia
SINGAPORE, 19 January 2017 – mm2 Asia Ltd. (“mm2 Asia”, “mm2全亚影视娱乐有限公司” or collectively with its subsidiaries, the “Group”), is pleased to announce that its Executive Chairman and Chief Executive Officer (“CEO”), Mr Melvin Ang, has sold 10 million vendor shares to Mr Timothy Mou En-Kuang (牟恩广) at the price of S$0.485 per share.
Commenting on the share sale, mm2 Asia Executive Chairman and CEO, Mr Ang said: “I have known Timothy Mou for many years and we have strived to forge a working alliance together to address the many opportunities we see, both in and outside China. I am indeed most honoured and happy that he has now taken a direct stake in mm2 to underline his sincerity to be part of mm2's future growth. I thank Timothy for his vote of confidence in mm2 and I look forward to cementing a long-lasting working relationship with him and his company.”
Both parties believe that this share sale fortifies the business bond between them and that it is a step forward for mm2 Asia to further develop its business in the North Asia market.
A well-known figure in the Chinese entertainment industry, Mr Mou is the manager of renowned Chinese actress, Ms Fan Bingbing (范冰冰) and the co- founder of Fan Bingbing Studio (范冰冰工作室). In addition, he is the CEO of Wuxi Ai-mei-shen Film & TV Cultural Ltd (无锡爱美神影视文化有限公司) and is also the CEO of Wuxi Talent Cultural Media Ltd. (无锡唐德文化传媒有限公司) which is a joint-venture between Wuxi Ai-mei- shen Film & TV Cultural Ltd (无锡爱美神影视文化有限公司) and Zhejiang Talent Film & TV Ltd. (浙江唐德影视股份有限公司), which produced the latest RMB 500 million TV Drama Series “Win The World (Ying Tian Xia)” (赢天下), where Ms Fan Bingbing (范冰冰) is the leading actress and Executive Producer.
Mr Mou commented: "I have known Melvin for years, well before mm2's IPO, and admire his business acumen and what he has achieved to-date for both himself and mm2. My stake in mm2 strengthens our working relationship and I look forward to playing a role in mm2's future growth."
With this transaction, Mr Timothy Mou and Mr Melvin Ang will hold stakes of 0.95% and 44.27% in mm2 Asia respectively.
Note to media: Please read this press release in conjunction with the Company’s announcement released on the SGXnet on the same date.
This news release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, Hong Leong Finance (the “Sponsor”), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the sponsor is Mr. Tang Yeng Yuen, Vice President, Head of Corporate Finance, at 16 Raffles Quay, #40-01A Hong Leong Building, Singapore 048581. Telephone (65) 6415 9886.