GON Galleon Hldgs

 

TIDMGON 
 
RNS Number : 2348Q 
Galleon Holdings PLC 
07 April 2009 
 

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| Date:          | 7 April 2009                                                   | 
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| On behalf of:  | Galleon Holdings plc ('Galleon', 'the Company' or 'the Group') | 
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| Embargoed      | 0700hrs                                                        | 
| until:         |                                                                | 
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Galleon Holdings PLC 
AGM Trading Update 
 
 
At today's Annual General Meeting of Galleon Holdings plc, the AIM listed 
entertainment media company developing and producing multi-platform properties 
with a focus on emerging markets, the following statement will be made by David 
Wong, the Company's Executive Chairman: 
"This financial year we have seen further growth across the Group, most 
particularly in the entertainment division. The Board of Galleon is confident 
that 2009 will be another successful year for the Company, with revenues 
increasing in line with expectations. I would like to cover some of the 
highlights and areas of focus for the business going forward. 
Our business in China continues to grow at an accelerating rate, earning 
revenues from a range of platforms, including digital games and applications, 
mobile services, phone applications and transactions. The growth opportunities 
are considerable, both organic and by acquisition. To facilitate this growth we 
are further developing our relationships with broadcasters, online providers and 
mobile operators. Our proven revenue generating infrastructure in China is also 
a unique offering for third parties, in particular other Western entertainment 
content owners looking to gain traction in this increasingly important market. 
During the course of this financial year, we have further developed our branded 
entertainment strategy. We have shown that we can create and launch 
Multiplatform Entertainment Properties ('MEP") in China and then roll these out 
to numerous territories around the world. The Super Soccer Star ("SSS") format 
was the first of these MEPs. Following its success in China and Malaysia, we now 
have deals in place to take the property into Russia, Eastern Europe, 
Scandinavia, the Middle East, Vietnam and India. We also have a long term 
strategic partnership in place with Chelsea Football Club, a major global 
entertainment brand, and with IMG, a global sports and entertainment company. 
SSS is now a global brand that demonstrates our MEP model for content creation 
and exploitation. During the remainder of 2009, we will focus on securing a 
second series of SSS in China, to be broadcast nationally, and further deals in 
new territories such as Asia, Africa and the US. 
 
SSS has a significant 
online and mobile component as a part of the format. This creates large online 
audiences to whom we can offer new digital products and services. In Malaysia we 
launched a viral online soccer game as a part of the recruitment for Super 
Soccer Star and this recorded 4 million unique users of the game. This 
integrated entertainment online strategy presents us with the opportunity to 
extend our revenue generating activities into the area of online gaming. Our 
first product in this area will be an online sci-fi fantasy soccer game, 
Sokator-442, which is to be launched in June. In addition to the cross 
promotional opportunities with our SSS online audience, we are also in 
negotiations with numerous other partners and expect to announce online 
distribution and marketing partners in China and the rest of the world in the 
next few months. 
We have proven that MEP's can be launched from China and rolled out to the rest 
of the world. We have created a number of new MEPs and aim to launch these 
towards the end of 2009. Some of these new properties are an extension of the 
SSS franchise, taking the format and model into other globally popular themes 
such as fashion, health & wellbeing or motor racing. 
During the financial year, another key focus for the Group was to unlock the 
Chinese children's market with our comedy action animated TV show Skunk fu! We 
have entered into an agreement with a major Chinese broadcaster for the show to 
be on air, subject to certain conditions being met, during 2009, and will 
confirm details later in the year. 
Our Product IP Division, Croco has recently secured new clients in two new 
territories, India and Italy, taking us into very sizeable and rapidly growing 
markets. Croco is also in discussions with a number of existing clients to 
involve other aspects of our entertainment properties, linking our online games 
and media properties with a premium toy product. 
As announced separately today, we have signed an agreement with BiteTV, an 
interactive Canadian TV channel, to grant the rights to broadcast episodes of 
Apollo's Pad on the BITE channel. The agreement demonstrates the Group's ability 
to produce high quality entertainment products and to extend our offering 
through multiple routes to reach consumers.  BiteTV will not only unlock a wider 
audience but will also serve as a showcase for how an online property can work 
in the traditional TV format, facilitating the potential for further sales to 
other broadcasters globally. 
In summary, during 2009 we will be focused on building on the success of our 
first MEP with new and existing formats across a range of channels, exploiting 
our proven infrastructure in China and continuing to develop the relationships, 
both in China and around the world, that are key to the roll out of these 
properties." 
 
 
- Ends - 
 
 
Enquiries: 
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| Galleon Holdings plc                         |              www.galleonplc.com | 
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| Stephen Green, Chief Executive               |              Tel: 020 8742 3636 | 
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|                                              |                                 | 
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| Cenkos Securities (Nominated Adviser &       |                                 | 
| Broker)                                      |                                 | 
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| Ken Fleming / Jon Fitzpatrick                |   Tel: 0131 220 9772 / 0131 220 | 
|                                              |                            9773 | 
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|                                              |                                 | 
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| Redleaf Communications                       |          Galleon@redleafpr.com  | 
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| Samantha Robbins / Sanna Sumner / Mike Ward  |              Tel: 020 7566 6700 | 
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Notes to Editors: 
ABOUT GALLEON HOLDINGS 
Galleon Holdings plc creates and distributes multi-platform branded 
entertainment properties focused on the emerging markets, in particular China 
and South East Asia. The entertainment properties are designed to establish a 
direct, interactive relationship with the viewer. 
 
 
Television in China reaches approximately 98% of the population of 1.3 billion. 
Mobile phone penetration is also high, with over 500 million subscribers and 
with over 300 million people online, China is now the largest online market in 
the world.  Huge TV audiences and growing interactive platform access presents a 
substantial opportunity for Galleon to benefit from the popularity and demand 
for interactive entertainment and game shows. China is forecast to become the 
world's fifth largest advertising market. 
 
 
In October 2007 Galleon acquired Phoenix, a Hong Kong based media solutions 
company, which specialises in the provision of interactive broadcast television 
services that enable broadcasters in China and South East Asia to provide 
interactive entertainment for audiences to access through TV, online and mobile. 
 
 
In February 2008 Galleon acquired Yunbo, a mobile service provider in China, 
strengthening the Company's ability to provide Chinese broadcasters with a 
complete media solution for multiplatform entertainment.  Galleon now has total 
control over the interactive content, its delivery to the consumer, data capture 
and the billing process. 
 
 
Galleon develops entertainment formats for children, families and young adults. 
These include: 
 
  *  
  *  
  *  Super Soccer Star - an interactive family orientated football talent show. Produced in association with Chelsea Football Club. The first series, broadcast in Guangdong province, China, achieved top five show status. The show has recently launched in Malaysia. Skunk Fu! - a comedy action animated TV show for kids aged 6-11.Apollo's Pad - an interactive online animated sitcom targeting the young male audience.
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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