Capital Alliance's SE shareholders back Sun Media deal
2005-04-04 14:57 ET - News Release
Mr. Toby Chu reports
SE GLOBAL SIGNS AGREEMENTS WITH SUN MEDIA AND SUBSIDIARY
Capital Alliance Group Inc. subsidiary SE Global Equities Corp. has executed all business agreements with Sun Media Investment Holdings Ltd. and related companies, except for the formal share purchase agreement.
SE Global held a special meeting of its stockholders on March 31, 2005. All proposals presented at the meeting were approved by a majority of stockholders. A reconfirmation vote will be held at the time SE Global stockholders vote on the proposed transaction with Sun Media and its subsidiary, Asia Multi-Media Technology Services Holdings Ltd. The transaction, previously reported in Stockwatch on Jan. 7, 2005, requires further stockholder approval following the filing of SE Global's Schedule 14A, including a pro forma financial statement, with the U.S. Securities and Exchange Commission, providing full disclosure of the transaction. Capital Alliance Group, being the 82-per-cent majority stockholder of SE Global, will be voting in favour of this transaction.
"We are encouraged and pleased to be working with SE Global and look forward to executing our company's strategy of becoming one of the pre-eminent leaders in the telecommunications and multimedia markets in Asia," commented co-founder and executive chairman of Sun Media, Dr. Bruno Wu.
"Capital Alliance and SE Global are proud to be working with Sun Media and its related companies in China," commented Toby Chu, president and chief executive officer of Capital Alliance Group and chairman of SE Global. "This strategic partnership allows us to leverage on each other's business network and infrastructure in China and North America. It will also enhance the expansion strategies for Capital Alliance's education initiatives in China, and introduce SE Global's investment securities business to potential clients throughout Asia."
The final closing of this transaction will also be subject to receipt of all regulatory approvals which may be required.
About Sun Media and Asia Multi-Media Technology Services Holdings
Asia Multi-Media Technology Services Holdings is a subsidiary of Sun Media Investment Holdings, which owns a 100-per-cent interest in an advanced, fibre optic network in China. Sun Media Investment Holdings is an investment group focusing on growth opportunities in media markets in Asia, particularly China. Sun Media works to add value by creating and sustaining branded content platforms, which it can leverage across many different forms of media. Today, Sun Media has activities in six strategic areas: television, news media, publishing, education, advertising and sports. In all, Sun Media has direct interests in 11 media companies, through which it holds shares in more than 30 media operations, controlling no less than 60 media brands in nine countries and 15 cities.
