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Please note that our company welcomes all enquiries. However please do not send us any proposals, stories, scripts or any materials to us unsolicited. The Company shall not be held responsible for any unsolicited materials sent to us and we cannot be responsible in any way for safe guarding the confidentiality of such materials. All unsolicited proposals, stories, scripts or any similar materials shall be deemed to be sent at the sender's risk. Read more here.

Transfer of Shares Within Group Subsidiaries

September 11, 2017

The Board of Directors (the “Board”) of mm2 Asia Ltd. (the “Company”) together with its subsidiaries, (the “Group”) wishes to announce that pursuant to a transfer of shares within the Group’s subsidiaries, mm2 Entertainment Pte. Ltd., a wholly-owned subsidiary of the Company, had transferred its 100% equity interest in mm2 Screen Management Sdn. Bhd. to another wholly-owned subsidiary of the Company, MM Connect Pte. Ltd. for a consideration of RM20,800,000.00 (“Transfer of Shares”).

 

The Transfer of Shares is to consolidate and streamline the Group’s cinema operations under the holding company, MM Connect Pte. Ltd..

 

The Transfer of Shares is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company for the financial year ending 31 March 2018. None of the Directors, controlling shareholders or substantial shareholder of the Company has any interest, direct or indirect, in the Transfer of Shares, save for their shareholdings in the Company.

 

BY ORDER OF THE BOARD

 

Melvin Ang Wee Chye

Executive Chairman and Executive Director

11 September 2017

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