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CHINAINFO HOLDINGS LIMITED
Acquires rights to PRC computer games for a consideration of HK$150 million
The aggregate consideration for the acquisition will be satisfied partly by the allotment and issue by the Company to CCI of 85,542,000 new shares ("Consideration Shares") at HK$0.28 per share. The Consideration Shares represent 20% of the Company's existing issued share capital and approximately 16.67% of the enlarged issued share capital.
Pro-Concept has signed an additional agreement ("CCP Agreement") with CCC subsidiary China Cyberport Co., Ltd. ("CCP") to license the use of the exclusive rights to CCP for a term of 10 years. In consideration of the grant of this exclusive license, CCP will pay an annual payment in cash to Pro-Concept. The initial annual payment payable will be in the sum of RMB20 million and will be adjusted annually by a compound increment of 10% to the previous payment.
The licensed rights include the rights to publish, replicate, reproduce, manufacture, distribute and sell the products, as well as all the rights and benefits in relation to the organisation of electronic sports tournaments in respects of these products in the PRC.
Ms Chan Tan Lui, Danielle, Chairman, Chinainfo Holdings said: "The PRC multimedia and internet market is a fast growing sector with significant business potential. We consider the acquisition of the licensed rights and collaboration with CCC a strategic move to expand our business and enhance market foothold in the PRC. We believe the computer gaming and electronic sports industry in the PRC will develop rapidly in the years to come with strong government support."
"The research and development technology of on-line games has been included in the state's China High Tech Research and Development Plan, and computer gaming has become a highly popular leisure pursuit in the country.. We look forward to tapping further into the promising PC and on-line gaming market in the PRC," continued Ms Chan.
Mr He Chen Guang, Chairman, China Communication Co., Ltd. went on to say that: "In 2003, the General Administration of Sports announced the first time inclusion of electronic sport as the 99th national sport item in the PRC. In August 2005, the research and development of on-line games was included in the '863 Plan'. Electronic sports have great potential and can drive the further development of the country's software, hardware, cybercafe, media, entertainment, publication, internet, computer, TV, mobile telecommunications and IT industries. Also the government wishes to rein in pirating in the gaming industry through the encouragement of electronic sports tournaments authorized by game license holders. There are currently more than 600,000 cybercafes in operation in the country, the daily revenue of which averages at RMB6,000. Chinainfo has acquired through its subsidiary the licenses to some very popular games, including Counter Strike, Warcraft and Starcraft. Our joint effort with Chinainfo to promote electronic sports in the PRC will be backed by our nation-wide telecoms network, comprehensive content capability and management expertise."
CCC owns a public telecommunication network (DWDM/SDH) and has established six regional communication hub centres which are located in Beijing, Shanghai, Chongqing, Shenzhen, Xian and Harbin. With various public communication networks interconnected and resources shared via the hub centres, CCC is able to provide its customers with quality telecommunication services.
About Chinainfo Holdings Limited
Chinainfo Holdings Limited (HKGEM: 8206) is a multi-media financial information services provider. It provides financial news and commentaries on a range of media channels, produces financial programmes and corporate videos, and offers investor education services.
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Hong Kong, February 5, 2006 - Chinainfo Holdings Limited (HKGEM: 8206) (the "Company") has signed an agreement ("CCI Agreement") with China Communication Investment Ltd. (神州通信投資有限公司, "CCI"), a wholly-owned subsidiary of China Communication Co., Ltd. (神州通信有限公司, "CCC") to acquire the licensed rights to 30 computer game software and four computer game guide books for a consideration of HK$150 million. The acquisition was made through the Company's wholly-owned Pro-Concept Development Limited ("Pro-Concept").
Chinainfo Holdings Limited
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