GEM listed company Shanghai New Culture Media Group Co., Ltd. contemplates the purchase of 100% shares of Tulip Advertisement (Shanghai) Co., Ltd. and 100% shares of Shenyang Dakesi Advertisement Co., Ltd., by ways of shares issue and cash payments, meanwhile it envisages the private placement to less than five (5) specific investors for collecting supporting funds amounting to no more than RMB 500 million as payment of the cash consideration in this transaction.
Shanghai New Culture Media Group Co., Ltd. is mainly engaged in investment, production, distribution and derivative businesses of teleplays, and has long occupied a leading competitive position in TV production and distribution field. Tulip Advertisement (Shanghai) Co., Ltd. is one of the largest-scale domestic advertising companies that run outdoor LED large-screen media, and is a pioneer and innovator in this field whereas Shenyang Dakesi Advertisement Co., Ltd., is one of the largest-scale advertising companies that run outdoor LED large-screen media in northeastern region.
As PRC legal counsel for Shanghai New Culture Media Group Co., Ltd. in China, Llinks provided a full range of legal services for this project.
