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MM2 Asia [1B0.si]
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MakeChanges
Elite |
11-Jan-2022 07:44
Yells: "No price is too low for a bear or too high for a bull" |
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mm2 TO LAUNCH METAVIVA NFT MARKETPLACE SPECIALISING IN ENTERTAINMENT & MEDIA DIGITAL COLLECTIBLES Singapore&rsquo s leading media entertainment and content company mm2 Asia (' mm2' ) today announced that it will be launching a new NFT marketplace named Metaviva for licensed digital entertainment tokens and collectibles focusing on popular entertainment and media content from the region. mm2 and RHT Aldigi Financial Holdings (' RHT Aldigi' ) have also entered into a non-binding term sheet for RHT Aldigi to invest in Metaviva. Powered by blockchain technology, the marketplace will offer fans an opportunity to engage and participate in their favourite content in the form of non-fungible tokens (' NFT' ). Collectibles include exclusive keyart, audio visual footages, music, animation, merchandise and extending to even actual props from movies, TV series and events. The marketplace will serve as a hub for consumers to purchase, trade, sell and store digital tokens and will be interoperable across Polygon, Ethereum and other blockchains. Content producers from the region will also be invited to promote their NFTs on the marketplace. The marketplace&rsquo s launch date will be announced in the coming weeks. ' Today the NFT asset market represents a fraction of the physical asset market. We believe that in the near future, the market for digital collectibles will eclipse that of the physical. The market for licensed merchandise is estimated at US$291 billion globally in 2020, and expected to grow 2.2% per annum. In 2020, the global NFT market represented approximately US$338 million in transactional volume, and in August 2021 the total value of NFTs traded crossed the high-water mark of US$10 billion. At mm2, we are always looking out for new ways to engage with consumers,' says Melvin Ang, Founder and Executive Chairman of mm2 Asia . He continues, ' We want to build a platform that will enable content producers to build their brands and community fan base by creating offerings that were previously only available to insiders of the industry. Metaviva NFT owners may get early or exclusive access to limited edition collectibles, and invitations to real world events such as movie premieres and celebrity meet-and-greets.' Jayaprakash Jagateesan, RHT Aldigi Financial Holdings Chief Executive Officer, said, ' Our experience in intellectual property ownership, licensing and commercialization, M& A advisory and developing a digital asset marketplace and a distribution channel for alternative assets will enable us to launch a trusted NFT marketplace as an option for mm2 to unlock the value of creative and collectible content. This market place will not be limited to mm2 content alone.' Under the investment agreement for Metaviva, RHTLaw Asia LLP will also provide legal services in relation to the NFT marketplace to ensure the highest level of trust and compliance. |
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piscesmonkey
Supreme |
11-Jan-2022 05:36
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Huat ah 🚀
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spursfan
Supreme |
11-Jan-2022 04:05
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mm2 TO LAUNCH METAVIVA NFT MARKETPLACE SPECIALISING IN ENTERTAINMENT & MEDIA DIGITAL COLLECTIBLES..... https://links.sgx.com/1.0.0/corporate-announcements/ABNYCODZOKR0MZHB/697201_20220111%20-%20mm2%20to%20Launch%20Metaviva%20NFT%20Marketplace_Final.pdf | ||||
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ozone2002
Supreme |
10-Jan-2022 18:14
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Melvin Ang has enough to sell if need be
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slingshotpro
Senior |
10-Jan-2022 14:36
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Maybe kingsmead expected the due dillegence to be good and deal will go through?
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Longtermer
Elite |
10-Jan-2022 14:26
Yells: "A disciplined investor is a wealthy investor" |
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Good point.. Why set at 8c in the begining?
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slingshotpro
Senior |
10-Jan-2022 13:27
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They let the cinema deal to lapse, so is either their deposit get forfeited or they get shares. Which will you choose as a rational investor. I would rather even a junk shares than get the deposit forfeited
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Longtermer
Elite |
10-Jan-2022 12:44
Yells: "A disciplined investor is a wealthy investor" |
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Buy from market cannot buy so many shares. Price will move up fast and furious when there is huge buy of up to 75 mil share. Kingsmead cannot be buying something that they dont know.. The valuation should be close or better than their price??
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ozone2002
Supreme |
10-Jan-2022 09:58
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Kingsmead family office investment didn?t do their homework when they could have bought 40% cheaper at current price 5c instead of 8c
Buy from open market then can push up the price mah Why issue new shares?
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MakeChanges
Elite |
10-Jan-2022 08:26
Yells: "No price is too low for a bear or too high for a bull" |
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UPDATE ON THE PROPOSED MERGER OF THE MM2 ASIA LTD. CINEMA BUSINESS WITH GOLDEN VILLAGE CINEMAS IN SINGAPORE The Board of Directors (the ' Directors' ) of mm2 Asia Ltd. (the ' Company' or ' mm2' ) refers to the announcement made by the Company on 9 December 2020 in relation to the Heads of Agreement relating to the proposed merger of the mm2 Asia Ltd cinema business with Golden Village cinemas in Singapore. The Long Stop Date under the Heads of Agreement by which the stated conditions of the proposed merger were required to be satisfied was 31 December 2021. As this date has passed with one or more conditions not fulfilled, the Heads of Agreement has lapsed. The Company will continue to explore new avenues to maximise stakeholder value and the Board will make additional announcements as required in due course to update shareholders. |
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piscesmonkey
Supreme |
08-Jan-2022 22:43
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Buy more since Kingsmead has chosen to exercise its exchange right, and will instead exchange its deposit of S$6 million into 75 million newly issued mm2 shares at a share price of S$0.08 per share. | ||||
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Huatsweeswee
Master |
08-Jan-2022 22:06
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Sad. No chance to see share uptrend next week
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slingshotpro
Senior |
08-Jan-2022 13:32
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They lease from Cathay, not and never own
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ozone2002
Supreme |
08-Jan-2022 12:03
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In its Friday filing, mm2 said that it will continue to " explore new avenues to maximise stakeholder value" . Shares of the company closed at S$0.051 on Friday, down 1.92 per cent.
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spursfan
Supreme |
07-Jan-2022 20:02
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UPDATE ON THE PROPOSED MERGER OF THE MM2 ASIA LTD. CINEMA BUSINESS WITH GOLDEN VILLAGE CINEMAS IN SINGAPORE- lapse on long stop date.. https://links.sgx.com/1.0.0/corporate-announcements/F70Y43EQAKPX8ZUO/697039_20220107%20-%20mm2%20Asia%20Announcement%20-%20Termination%20of%20HoA.pdf | ||||
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Ximi88
Member |
04-Jan-2022 21:29
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Not sure why Kingsmead was interested in the cinemas in the first place. Do cinemas lease or own the properties that they are residing on?
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slingshotpro
Senior |
04-Jan-2022 11:59
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Those who took the $0.57 private placement many years ago must be stupid investors
Who is the winner ultimately?
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ozone2002
Supreme |
04-Jan-2022 11:33
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I' m sure kingsmead knows how to profit from their investment Kingsmead Properties is incorporated in Singapore and is in the business of making strategic investments. Ms Jasmine Foo Mei Ling, a Singaporean citizen, is the sole shareholder and director of the company. Ms Foo manages her family business interests and previously worked in several global financial institutions, according to the binding term sheet related to the sale.
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piscesmonkey
Supreme |
04-Jan-2022 10:01
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Sooner price pushing up to match 80 | ||||
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Joelton
Supreme |
04-Jan-2022 09:47
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mm2 Asia' s deal with Kingsmead Properties for sale of cinema business falls through
THE sale and purchase agreement between mm2 Asia MM2 Asia: 1B0 +7.84% and local investment firm Kingsmead Properties for the former' s cinema business has fallen through, the entertainment company announced on Monday (Jan 3).
Kingsmead has chosen to exercise its exchange right, and will instead exchange its deposit of S$6 million into 75 million newly issued mm2 shares at a share price of S$0.08 per share.
Shares of mm2 Asia last closed S$0.001 or 1.9 per cent lower at S$0.051 on Dec 31.
mm2 Asia - which operates cinemas under the Cathay brand - previously announced that it had inked a deal with Kingsmead to sell its cinema business for S$84.8 million. The proposed sale was to be completed by Dec 31.
However, Kingsmead said uncertainty surrounding the Omicron variant has dampened investor appetite " for the moment" , though it acknowledged that the cinema business in Singapore and worldwide has shown a strong turnaround in recent months.
" We hope to be able to revisit the acquisition again, and hopefully soon enough, when the Covid situation further eases," it said.
Melvin Ang, mm2 Asia' s founder and executive chairman, said the company welcomes Kingsmead as a valuable strategic shareholder and will welcome any new proposal from the investment firm in the future.
" The Omicron effect on investing sentiment was sharp and unexpected. However, mm2 remains optimistic about the recovery of the cinema business as signs are indicating a trend towards recovery," he added.
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