Creative Sold Vue Networks 50% Share To Mega Media ~ Creative Labs Zen MP3 Players Sound Blaster Card
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Monday, October 18, 2010

Creative Sold Vue Networks 50% Share To Mega Media



Thats one subsidary which I didnt know about.. Vue Networks. Creative Technology Ltd (“Creative”) on 15th Oct 2010 announced that its wholly owned subsidiary, Vue Networks Pte Ltd (“Vue Networks”) has entered into an agreement to issue 1,999,998 new ordinary shares for a cash consideration of S$1,999,998. A new investor, Mega Media Holdings Pte Ltd (“MM”) will subscribe for 1,000,000 shares at S$1 each while Creative will subscribe for the remaining 999,998 shares at S$1 each.

Following the issuance of new shares which is expected to take place by the end of October 2010, the issued and paid up capital of Vue Networks will increase to S$2 million and Creative’s interest in Vue Networks will reduce to 50%. Consequently, Vue Networks will cease to be a subsidiary and will become an associated company of Creative.

Vue Networks is involved in the production, procurement and management of digital media content including the provision of technical development services for digital entertainment devices while MM group’s core businesses comprise TV & film media content production, aggregation and distribution. This transaction presents an opportunity for both parties to work together in the production and technical development of digital media content as well as the opportunity to grow the business through the enhancement of media content, product and service offerings. The cash proceeds from the issuance of the new shares are intended to provide additional working capital for the company.

Creative will fund the subscription of new shares in Vue Networks through internal resources and this transaction is not expected to have any material impact on the financial position of the Creative Group for the current financial year.

None of the Directors or controller shareholders of Creative has any interest, direct or indirect, in the above transaction.

Ng Keh Long
Company Secretary
15 October 2010

Please feel free to let us know in the comments section below.

10 comments:

Anonymous said...

The "wicked one" should stop pretending to be a creative fan. He should visit this and get a job to earn back some losses:
http://www.jobstreet.com.sg/jobs/2010/10/c/20/2390849.htm?fr=J

Anonymous said...

Yet to have a Zii product targeted at Singaporean users.
Shanzhai marketing is successful, Singapore and other parts of the world is a failure.

Anonymous said...

"Wicked one" still doesn't understand what is ZiiBook despite "staying" here so long. Please search for "mediabook" here.

Anonymous said...

By the way, "shanzhai" marketing has yet to see success. You can look at the financial statements and hardly any contribution from that. However, things may change now that Zii is platform ready (after 2 years of culture change, conflict, etc). Jimmy and Creative are like brothers, they will succeed together.

Anonymous said...

Creative Sound Blaster® X-Fi® Titanium HD and Sound Blaster®
Digital Music Premium HD Now Available
Pro Audio Sound Cards Feature THX TruStudio PC™ Audio Technology and
Offer the Highest Quality Audio Playback of Any Creative Sound Card Introduced
SINGAPORE – 19 October 2010 – Creative Technology Ltd. today announced the availability
of the PCI-E Creative Sound Blaster® X-Fi® Titanium HD discrete audio card and USB Creative
Sound Blaster Digital Music Premium HD digital audio system. Both the Creative Sound Blaster
X-Fi Titanium HD and Creative Sound Blaster Digital Music Premium HD feature THX
TruStudio PC™ audio technology which is specially designed to bring the same great audio
experience found in live performances, films and recording studios to the PC.

This proves that Jimmy is correct!

Jimmyboy88 said...

any date when ziibook will be released?

Anonymous said...

Should coincide around the time Creative's share price breach your favorite 200 days MA.

Anonymous said...

Several days ago, read an advert from VUE recruiting temporary staff for Creative to promote and sell Zii Eagle Box ! Suppose Big Promotion coming at road shows!

:))

Anonymous said...

A suggestion for Creative: Do it like big 3 in Singapore. Bundle it with data plans, e.g. 24mth unlimited xxmbps Wimax, S$40 a month, free Zii Eagle or subsidized at S$199 a box. People won't feel the high price.
Man: iphone 4 costs more than 1k Sing you know?
JC student: no lah, only a few hundred.
Man: you don't know you need to pay min. S$39 a month for 24 months? the price is included inside.
JC student: what???

Jimmyboy88 said...

iphone is for suckers forced to subscribe to data plan which you do not need it, especially for those less tech savy people dont know what to do with their data plan *sigh*

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