Transaction Announcement

RNS Number : 3912V

Symphony International Holdings Ltd

28 May 2008

 



Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

28 May 2008

Symphony International Holdings Limited

Transaction Announcement

Symphony International Holdings Limited ('SIHL') is pleased to announce two new investments. SIHL has invested in AFC Network Private Limited ('AFC') a Singapore based media company as well as in SG Land Limited, a Thai company which owns the leasehold rights for two office buildings in Bangkok.

About AFC

AFC operates the Asian Food Channel, an independent TV channel broadcasting food and lifestyle programming tailored to audiences in the Asia Pacific region. This channel began broadcasting in July 2005 and is now estimated to reach an audience of over 15 million in Hong Kong and the South East Asian countries.

Maria Brown and Hian Goh are the co-founders and leaders of AFC.  Prior to AFC, Ms. Brown worked with the BBC in London and New York for 14 years. Mr. Goh was a founding member of the Salomon Smith Barney Asian Technology Investment Banking team and then served as the CFO and co-founder of a telecommunications services company before co-founding AFC.

'This investment represents SIHL's strategy of investing in consumer-focused Asian businesses that require growth capital. We are very excited to be partnering with the management of AFC and to be able to contribute to the next phase of their impressive growth' said Anil Thadani, Chairman of Symphony Investment Managers Limited, the investment manager of SIHL.

About SG Land

SG Land Limited owns the leasehold rights for two office buildings in downtown Bangkok - SG Tower and Millenia Tower. SIHL's partner in this transaction is Thai Factory Development Public Company Limited, a company listed on the Stock Exchange of Thailand. 

The two buildings in SG Land's portfolio have high occupancy rates and offer attractive rental yield. This investment lays the foundation for further acquisitions of such income generating assets. 

For further information, please contact:

Sunil Chandiramani - Symphony Asia Limited (Tel: [phone])

No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

End of Announcement

 

END

 

 

ACQUWARRWORVUAR