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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cosmedia | LSE:CGHL | London | Ordinary Share | KYG244331073 | ORD USD0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9270B Cosmedia Group Holdings Limited 13 August 2007 Cosmedia Group Holdings Limited Appointment of New Group CFO and CEO of Home Shopping Division Cosmedia Group Holdings Limited ("Cosmedia" or the "Company"), the holding company of an advertising and media group with a focus on television advertising in China, announces that it has appointed Mr Dan Chung as its Chief Financial Officer, with effect from 15 August 2007. Mr. Chung, aged 40, is an experienced executive in the field of finance and media consulting companies, including Boston Consulting Group and Spectrum Strategy Consultants. He is educated in Hong Kong with a degree from Oxford University, followed by a PhD from Princeton University. Mr. Berry Kwock resigned as the Group Chief Financial Officer with effective from 15 August 2007, but will remain in his current role of Group Company Secretary. In addition, Cosmedia has appointed Mr. Jones Guo as the Chief Executive Officer of the Company's TV home shopping business venture with effective from 1 August 2007. Mr. Guo, aged 44, has accumulated over 20 years of experience in the media and home shopping business in Greater China. He headed one of the 5 channels for ETTV Home Shopping Network in Taiwan from its launch. Furthermore, he was the driving force behind the "Best One" Home Shopping Network from its green field inception as a joint venture between ETTV and Zhejiang Media Group. Commenting on the announcement of today's appointments, Stanley Pong, Executive Chairman of Cosmedia, said: "We are delighted to welcome both Dan and Jones to our senior management team. Both of them have the perfect credentials and experience to compliment our already strong team." "Today's announcement is further evidence that Cosmedia is well positioned with the right television and new media marketing team to build and grow our businesses towards the 2008 Beijing Olympics and beyond." For further information, please contact: Cosmedia Group Holdings Limited Stanley Pong/Antony Chan +852 2136 8222 Collins Stewart Europe Limited Adrian Hadden +44 (0) 20 7523 8350 Catullus Consulting Alex Mackey +44 (0) 20 7736 2938 Note to Editors: Cosmedia's business * Foreign ownership of television and broadcasting channels in China is not permitted and all such Chinese channels are state-owned and operated under the supervision of the Chinese government. Cosmedia has established a long-term relationship with China Great Wall Art and Culture Center ("Great Wall") a subsidiary of the Chinese State Administration of Radio, Film and Television ("SARFT"), to act as exclusive advertising sales agent to a Chinese television channel with nationwide broadcasting potential ("the Channel"). * Cosmedia generates revenue by selling the Channel's advertising airtime and providing integrated solutions to advertisers such as programme title sponsorship, product placement and product messages embedded in programmes. In the future, Cosmedia may look to generate home shopping revenue as well as new media advertising income through, for example, co-operation with the Channel's dedicated website, the Internet, wireless operators and service providers. Market overview * Television is currently the largest media sector in China, both in terms of its reach and influence. With the benefit of new technologies, the Chinese television industry has grown and diversified, developing into a complex network of satellite, cable, video-on demand and Internet-based service providers. * According to ZenithOptimedia, China's television market is the largest market in Asia Pacific, with 355 million television households representing a penetration rate of 95 per cent as of 2004. Of these, 128 million are cable households. In 2005, ZenithOptimedia forecast that by the end of 2007 total television households and cable households would increase to 385 million and 164 million respectively. The Company has listed on AIM in order to raise the Company's profile as a quoted company and to provide access to the capital markets for future expansion. ENDS This information is provided by RNS The company news service from the London Stock Exchange END BOAEAKPEFEPXEFE
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