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Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | ENTRY BY AXIATA DIGITAL ADVERTISING SDN BHD INTO SUBSCRIPTION AND SHAREHOLDERS’ AGREEMENT WITH ADKNOWLEDGE INTERNATIONAL, INC AND ADKNOWLEDGE ASIA PACIFIC PTE LTD |
1.0 INTRODUCTION 2.0 INFORMATION ON ADK AND AAP Founded in 2004, ADK is a multi-channel global digital marketing company that partners with brands, agencies and publishers to "Unlock Digital Audiences" through digital video, social media, apps/mobile, email and recommended content. Some of the registered trademarks of ADK include AdParlor, AdBistro, AdStation, TriVu Media and Giant Media. ADK is headquartered in Kansas City, Missouri, USA, with offices in New York, San Francisco, Los Angeles, Chicago, Detroit, Fort Myers and Toronto. The company has overseas offices in London, Paris, Munich, Singapore and São Paulo. AAP is a private limited company incorporated in Singapore with registered office at 8 Marina Boulevard, #05-02 Marina Bay Financial Centre, Singapore 018981. AAP is currently a wholly owned subsidiary of ADK and has been designated as the joint venture company between ADA and ADK to pursue digital advertising in the Asia-Pacific (APAC) region. 3.0 SOURCES OF FUNDS The subscription by ADA of the shares in AAP will be funded through internally generated funds. 4.0 RATIONALE FOR THE ENTRY INTO THE SSA APAC is a fast-growing region in the digital marketing space and presents large growth opportunities for providers of digital advertising solutions and services. The partnership between Axiata Group’s Digital Services Unit and ADK will enable the capturing of the APAC growth opportunity through the synergistic combination of the core strengths, competencies and market assets of the respective organisations. ADK brings to the partnership its solid brand reputation, industry leading technology platforms, domain expertise in digital advertising and an already seeded APAC customer base. 5.0 FINANCIAL EFFECTS 6.0 APPROVAL OF SHAREHOLDERS None of the Directors and major shareholders of Axiata and/or persons connected to them have any interest direct and/or indirect in the SSA. This announcement is dated 4 December 2014. |
Company Name | AXIATA GROUP BERHAD |
Stock Name | AXIATA |
Date Announced | 4 Dec 2014 |
Category | General Announcement |
Reference No | AG-141204-54777 |