DD Post #9: Last weeks deal for 400 Billboards in Malaysia makes a lot more sense now that we know about the Touche Digital Signs Acquistion.
So right after they acquire Touche and their off the charts amazing Digital Signs. CHMD announces a deal last week for 400 billboards in Asia....Have to love it when a plan comes together. Key point to notice, they made a 6 year deal for these billboards...that's some real confidence they will be around a while. Second notice the company they made a deal with for the billboards has 10,000 billboards....so we have room to really expand out this relationship.
8K.....Announcing a Deal for 400 Billboards
CHINA MEDIA GROUP CORPORATION
Entry into a Material Definitive Agreement
On December 22, 2010, the Company's subsidiary company, China Integrated Media Corporation Limited, a public company incorporated in Australia ("CIMC"), entered into an arrangement to lease 400 advertising sign boards in Kuala Lumpur, Malaysia for a lease term of 6 years from World Class Media Sdn. Bhd. ("World Class") for a total consideration of AUD515,000, which shall be settled by the issuance of i) a AUD15,000 promissory note payable in 30 days, and ii) 2,500,000 shares in CIMC.
World Class, a Malaysia incorporated company, is engaged in the outdoor media business in Malaysia and has a 10,000 sign board concession in various schools granted by the Ministry of Education in Malaysia.
