Proposed Acquisition of Stake in Golden Village Cinema Business in Singapore
The Board of Directors (the "Board") of mm2 Asia Ltd. (the "Company"), together with its subsidiaries (the "Group"), wishes to announce that the Company is in discussions with Village Cinemas Australia Pty Ltd ("Village Cinemas") for the purchase by the Group of Village Cinemas' entire stake in Dartina Development Limited, a company incorporated in Hong Kong which holds the Golden Village Cinema business in Singapore. The discussions and negotiations are at a preliminary stage and are ongoing. Village Cinemas is a wholly-owned subsidiary of Village Roadshow Limited, a company listed on the Australian Securities Exchange.
Any such purchase will be subject to the terms being agreed by both parties, the applicable consents being obtained and the fulfilment of relevant conditions precedent. As such, shareholders and potential investors of the Company are reminded to exercise caution when dealing in the securities of the Company. In particular, shareholders and potential investors should note that there is no assurance that the proposed purchase referred to in this announcement will materialise. The Group will make appropriate announcement(s) in the event that there are any material developments on this matter. Persons who are in doubt as to the action they should take, should consult their stockbrokers, bank managers, solicitors or other professional advisors.
By Order of the Board
Melvin Ang Wee Chye
19 May 2017
This announcement has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, Hong Leong Finance Ltd. (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) 64159886.