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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
London Asia | LSE:LDC | London | Ordinary Share | GB0008251513 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.85 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8527S London Asia Capital PLC 04 December 2003 4th December 2003 LONDON ASIA CAPITAL PLC ("London Asia" or the "Company") New investment in profitable Chinese media business Exercise of Beijing Success Option London Asia is pleased to announce that it has acquired a 51% stake in a company set up to acquire the operations of a profitable radio advertising business based in Beijing, China. The remaining 49% is held by Biaoqi Group and management. The business sells advertising space on Beijing's popular traffic radio station. Following the acquisition, the business will be re-named Beijing Biaoqi Oriental Advertising Ltd ("Oriental") to take advantage of the brand developed by our existing media investments, Biaoqi Culture and Biaoqi Advertisement, and operations integrated. London Asia is taking appropriate Board representation, with Victor Ng, London Asia's Director of China Operations and Mr Jiang, who runs London Asia's existing Beijing Biaoqi Advertisement business, joining the Board. Consideration for the acquisitions is being satisfied via the issue of 330,000 new London Asia ordinary shares of 5p each being issued at a price of 20p per share. Application has been made for the 330,000 shares to be traded on AIM. Admission is expected on 10 December 2003. On 31st October 2003 London Asia served notice under its option to acquire an additional 26.2% in Beijing Success, the financial software business where the Company already holds 24.8%. The paperwork is currently being finalised and we look forward to announcing the final terms of the deal in the near future. Victor Ng, Director of China Operations said: "This new business is a good fit with our existing investments in Biaoqi Advertisement and Biaoqi Culture, with all three businesses located in Beijing and Mr Jiang now on the Board of all three investee companies." Simon Littlewood, Chief Executive of London Asia, said: "Following my recent trip to China, we are performing due diligence on a number of investments identified during the trip which will substantially increase the scale of our investment activity in China, details of which should come through in the coming months as we complete due diligence and finalise terms. ENQUIRIES: Paul Quade, City Road Communications Tel 020 7334 0243 7th Floor, Roman House Wood Street London EC2Y 5BA About London Asia Capital plc London Asia is an AIM listed (code LDC) investment business, focused on investing in established, profitable businesses in the Greater China region which have the potential to grow rapidly and benefit from the management skills which the London Asia management team can bring, particularly our experience in bringing businesses to capital markets both in Europe and Asia. In October 2003 the Company raised #2.4 million via a private placing with institutional investors. The Company has offices and associates in London, China, Hong Kong, Taiwan and Singapore. Visit www.londonasiacapital.com for more information on the Company. This information is provided by RNS The company news service from the London Stock Exchange END ACQTIBMTMMMMBTJ
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