Group 1 - The company, Focus Media Network Limited, has entered into a conditional sale agreement to sell its entire issued share capital in Focus Media Singapore Pte. Limited for a cash consideration of HKD 3 million [1] - Upon completion of the sale, the company will no longer hold any interest in the target company, which will cease to be a subsidiary of the group, resulting in the target company's financial performance, assets, and liabilities no longer being consolidated into the group's financial statements [1] - The target company is a limited liability company registered in Singapore, primarily providing outdoor advertising services [1] Group 2 - The advertising industry is undergoing structural changes, with a significant shift in marketing expenditures from traditional media to online and social media platforms [2] - The company believes that the sale agreement will provide opportunities to achieve a premium above the book value of the target company, streamline operations, and allocate management and financial resources to markets with stronger local expertise [2] - The sale is expected to generate immediate cash inflow to enhance the group's overall working capital and meet future business development funding needs, aligning with the group's business strategy to maintain resilience and retain financial resources for growth opportunities [2]
基石金融(08112.HK)拟300万港元出售Focus Media Singapore Pte全部股本