Acquisition of a Subsidiary - Vividthree Productions Pte Ltd
The Board of Directors (“Board”) of mm2 Asia Ltd. (“Company”, and together with its subsidiaries, “Group”) wishes to announce that the Company’s indirect 51% owned subsidiary, Vividthree Productions Pte. Ltd. (“Vividthree SG”) had acquired 100% of the issued and paid-up share capital comprising 1 ordinary share, fully paid, in the capital of Vividthree Productions Sdn Bhd (“Vividthree Malaysia”), a company incorporated in Malaysia (“Acquisition”) for a consideration of RM 1.00 from Mr. Hong Wei Chien. Following the Acquisition, Vividthree Malaysia has become a wholly-owned subsidiary of Vividthree SG. Mr. Hong Wei Chien is a Director of Vividthree SG and Vividthree Malaysia. He is also a shareholder of Vividthree SG holding 16.17% equity interest of the capital of Vividthree SG. The Acquisition was funded through internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the financial year ending 31 March 2018. Save as disclosed above, none of the Directors, controlling shareholders or substantial shareholder of the Company has any interest, direct or indirect, in the Acquisition, save for their shareholdings in the Company.
By Order of the Board
Melvin Ang Wee Chye
29 December 2017