AI assistant
hmvod Limited — Capital/Financing Update 2022
Jan 4, 2022
51270_rns_2022-01-04_d16c0054-2223-45af-a3d2-5b1d87f599f4.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
hmvod Limited hmvod 視頻有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8103)
VOLUNTARY ANNOUNCEMENT ACQUISITION OF THAILAND CONTENTS
This announcement is made by hmvod Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) on a voluntary basis to provide the shareholders and potential investors of the Company updates on the latest business development of the Group.
The board of directors of the Company is pleased to announce that the Company with the assistance of ACCP Global Limited, a specialist investment firm with a focus on sourcing of and investing in technologically disruptive investments opportunities, is in negotiation with LINE Company (Thailand) Limited (LINE) in feasibility of acquisition of LINE’s contents and co-operation between the Company and LINE in OTT industry in Thailand’s market.
INFORMATION OF LINE
LINE is a video-on-demand, over-the-top media service owned by Korea and Japan based Line Corporation but operating mainly in Thailand, where it is the most popular online video platform for local television content, with over 40 million users quoted from Wikipedia. It is a free-toaccess, advertisement-supported service, available via mobile applications, digital media players, and the world wide web.
REASONS FOR AND BENEFITS OF ACQUISITION OF LINE’S CONTENTS AND COOPERATION WITH LINE
The Group is principally engaged in provision of professional services, over-the-top (“ OTT ”) services, and proprietary trading. The professional services segment involves cyber security services and solutions. The OTT services segment involves provision of multi-media related services and content to customers in Hong Kong and Macau via its own digital video rental platform. LINE has 47 original contents with duration of more than 600 hours on its own platform, the management thinks the cooperation with Line may be a stepping stone to enter the potential and enormous Thailand’s OTT market. Furthermore, Thailand content is more and more popular in Hong Kong and East Asia and the acquisition of LINE’s contents can enrich the library of the Company and attract more Hong Kong and Macau customers.
– 1 –
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
By Order of the Board of hmvod Limited Ho Chi Na Executive Director
Hong Kong, 4 January 2022
As at the date of this announcement, the Board comprises the following Directors:
Executive Director:
Ms. Ho Chi Na
Non-executive Director:
Mr. Lau Chung Yin
Independent non-executive Directors:
Mr. Hau Chi Kit Mr. Tang Chun Hei
Mr. Ho Chun Hang
This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain on the GEM website at http://www.hkgem.com on the “Latest Company Announcements” page for 7 days from the date of its posting and on the website of the Company at www.hmvod.com.hk.
– 2 –