Fiber series sixth week news Abstract 5
Week News Abstract For Fiber Series in 10GTEK
The abstract is mainly about the optical communication related products,including: FTTH,GPON,EPON,SFPPLC,PTN,ODN,Optical module,Optical devices,optical communications,Optical transceiver module,Etc.
Vodafone to boost IPTV in Germany
Vodafone Germany wants to gain 100,000 customers for its IPTV platform Vodafone TV by the end of the year. The Düsseldorf-based telco
currently counts 85,000 customers.
"Our marketing is making very good progress," Dhananjay Mirchandani, head of Vodafone TV, told German business newspaper "Handelsblatt".
The company wants to win new subscribers through the expansion of its HD line-up. On 1 December 2011, movie channel Tele 5, women's
channel sixx and news channel N24 will be added in high-definition. Vodafone TV will then offer a total of 18 HD channels.
The market leader in Germany's IPTV market is national telco Deutsche Telekom which currently counts 1.38 million customers for its IPTV
platform Entertain. Telefónica's IPTV package Alice homeTV has 83,000 customers.
China Oriental Culture Acquires Interests of Hunan Mobile TV and Beijing Jiahua
Regarding the Memorandum of Understanding signed on 2nd September 2011 which the Company intends to acquire shares of Hunan Mobile TV
and Beijing Jiahua, China Oriental Culture Group Limited (the "Company" or China Oriental Culture", stock code: 2371) is pleased to
announce that the Company has entered into the Acquisition Agreement on 24th November, 2011 to acquire the effective interests of 49% in
Hunan Mobile TV and 95% in Beijing Jiahua owned by Qingda Tech with an aggregate total adjsuted Consideration of not more than HK$876
Among total consideration, HK$30 million shall be paid in cash within six months after Completion; the remaining HK$188 million will be
financed by the allotment and issue of the First Tranche Consideration Shares (being 400,000,000 Shares) to the Vendors at an issue
price of HK$0.47 each upon Completion, with a discount of approximately 7.8% to the closing price of HK$0.51 per Share as quoted on the
Stock Exchange on the Last Trading Day. The total Consideration shall be adjusted upward by HK$235 million and HK$423 million upon
fulfillment of the First Adjustment Condition and the Second Adjustments Conditions respectively, to the maximum adjusted Consideration
of HK$876 million.
The First Adjustment Condition
If the number of subscribers of Hunan Mobile TV during the Profit Guarantee Period (12 months after the contract date) attains 600,000
or more, China Oriental Culture will pay an additional amount of HK$235 million by procuring the Company to issue: (i) the First Tranche
Convertible Bonds (which are convertible into a total of 400,000,000 Conversion Shares) in an aggregate principal amount of HK$188
million; and (ii) the Second Tranche Consideration Shares (being 100,000,000 Shares) in an aggregate amount of HK$47 million of at an
issue price of HK$0.47 per Share.
The Second Adjustments Conditions
If the net profit after tax of Qingda Tech for the Profit Guarantee Period is not less than RMB230 million (equivalent to HK$282.2
million); and the total number of subscribers of Hunan Mobile TV as at the last day of the Profit Guarantee Period is not less than
1,000,000, China Oriental Culture will pay an addition amount of HK$423 million by procuring the Company to issue Second Tranche
Convertible Bonds (which are convertible into a total of 900,000,000 Conversion Shares) in an aggregate principal amount of HK$423
Hunan Mobile TV is the largest operator of the terrestrial digital television network at the provincial level, with a sizeable number of
household subscribers amounting to about 300,000. It is principally engaged in the building, development and operation of wireless
mobile television network, the transmission of multi-media information and the production, publication, transmission, use and management
of television advertisement. Due to the low investment costs required for establishing its wireless network, it is suitable for rural
areas where construction and maintenance costs for cable television network is relatively high. Beijing Jiahua is principally engaged in
the development and promotion of arts and culture related activities in the PRC. The current activity of Beijing Jiahua is to assist the
provincial television stations in the production of TV drama and TV programs.
Commenting on the agreement, Mr. Li Qing, Executive Director of the Company, said: "the Acquisition and the scope of business of Hunan
Mobile TV would provide the Company with a unique opportunity to participate in terrestrial digital television industry and related
business activities in the PRC with lucrative potential. The Acquisition provides synergies to the Group's existing capabilities in the
outdoor advertising and TV drama production businesses in the PRC, and provide an excellent opportunity for the Group to expand its
The above information is edited by 10GTEK.
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