Acquires a stake in US strategic partner
08 Februar 2010 - 8:00AM
UK Regulatory
TIDMGON
RNS Number : 7922G
Galleon Holdings PLC
08 February 2010
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| Date: | 08 February 2010 |
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| On behalf | Galleon Holdings plc ('Galleon' or 'the Company') |
| of: | |
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| Embargoed | 0700hrs |
| until: | |
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Galleon Holdings PLC
Acquires a stake in US strategic partner
Galleon Holdings plc (AIM: GON), the AIM listed entertainment media company
developing and producing multi-platform properties with a focus on emerging
markets, is pleased to announce that, through its US subsidiary, it has acquired
a 19% stake in Dragonfruit Studios LLC, its US strategic partner. In exchange
for this stake, Galleon will contribute the following:
a) US$500,000 in cash which will be used as additional working capital in
Dragonfruit Studios;
b) 2,850,318 new ordinary shares of 1p each in Galleon, equivalent on the basis
set out in the contract to US$500,000; and
c) Galleon's 19% stake in Dragonfruit Entertainment, LLC (a wholly owned
subsidiary of Dragonfruit Studios LLC).
Dragonfruit Studios was launched in January 2008 by Michael Koziol and Melissa
Honabach, who previously founded interactive agency Ant Farm Interactive in
1999, which they sold to Nurun, a publicly traded (TSX) global interactive
agency, in 2004. Nurun was subsequently acquired by Quebecor Media. The
principals are widely recognised for their expertise in digital media and
marketing, new and emerging media models, and advising leading global brands on
the new media landscape. During their tenure at Ant Farm Interactive and Nurun,
they advised a wide range of clients, including: AT&T, AutoTrader.com, Equifax,
L'Oreal, Unilever, Evian, The Home Depot, Bombardier Recreational Products,
Frontier Airlines, and many others.
The 2,850,318 new Ordinary Shares being issued will rank pari passu in all
respects with the existing Ordinary Shares in Galleon. Application will be made
for these new shares to be admitted to trading on AIM and it is expected that
dealings will commence on 12 February 2010.
Dragonfruit Studios holds exclusive rights to exploit Galleon's Super Soccer
Star, Super Fashion Stars, Apollo's Pad, and Sokator-442 properties, as well as
its own original multi-platform entertainment properties The Superfruits,
Wayfinder.TV, and Spook House Dave!.
Commenting on the partnership, CEO of Galleon Holdings, Stephen Green said:
"Dragonfruit has made some significant inroads in terms of unlocking revenue
from large consumer brands. This branded entertainment revenue is critical for
launching Galleons MEPs in the US. We are also seeing benefits in China where
the same brands are also interested in investing in some of our entertainment
properties."
Commenting on the partnership, CEO of Dragonfruit Studios, Michael Koziol said:
"We have assembled a strong portfolio of brand-friendly multi-platform
entertainment properties that offer significant value to broadcasters, digital
networks, brands, marketers, audiences and consumers. We are in a very strong
position to monetise these assets in a number of different ways."
-End-
Enquiries:
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| Galleon Holdings plc | www.galleonplc.com |
+------------------------------------------+--------------------------------+
| Stephen Green, Chief Executive | Tel: 020 8987 0011 |
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| | |
+------------------------------------------+--------------------------------+
| Cenkos Securities (Nominated Adviser & | |
| Broker) | |
+------------------------------------------+--------------------------------+
| Ken Fleming / Jon Fitzpatrick | Tel: 0131 220 9772 / |
| | 0131 220 9773 |
+------------------------------------------+--------------------------------+
| | |
+------------------------------------------+--------------------------------+
| Redleaf Communications | Galleon@redleafpr.com |
+------------------------------------------+--------------------------------+
| Rebecca Sanders-Hewett/ Mike Ward/ Lucy | Tel: 020 7566 6700 |
| Salaman | |
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| | |
+------------------------------------------+--------------------------------+
| Dragonfruit Studios LLC | Tel: +1 678 500 9106 |
+------------------------------------------+--------------------------------+
| Michael Koziol, Chief Executive | michael@dragonfruitstudios.com |
+------------------------------------------+--------------------------------+
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 multi-platform 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:
Y Super Soccer Star - an interactive family targeted football talent show,
produced in association with Chelsea Football
Club. The show has aired successfully in China and Malaysia. Format
rights have been sold for Eastern Europe,
Scandinavia, Turkey, India, Middle East and Vietnam to partners including
IMG and Media Star Global.
Y Super Fashion Stars - a multiplatform entertainment property that includes a
reality TV show aimed at 16-45 year olds
with 60 contestants working together as a designer, stylist and model. Each
team is slowly eliminated over the series
for the prize of competing at Fashion Fringe at Covent Garden which is a
premier event during London Fashion Week.
Y Skunk Fu! - a comedy action animated TV show for kids aged 6-11 which airs in
100+ territories including Cartoon
Network(US), the BBC(UK), Disney Latin America, Cartoon Network Asia and
Super RTL(Germany).
Y Apollo's Pad - a multiplatform young adult sitcom that airs on Bite TV in
Canada and includes a content rich online
offering.
Y Sokator-442 - a multi-player intergalactic football (soccer) management game
that combines tactical thinking with fantasy/sci-fi gameplay.
ABOUT DRAGONFRUIT STUDIOS
Dragonfruit Studios is an Atlanta-based original content studio focused on
creating, developing, and producing multi-platform entertainment properties.
With the dynamic shifts occurring in the media and entertainment spaces, now is
the time for new approaches to content creation and a new view towards
distribution and revenue models. The founders' experience with new marketing and
media models, their perspective on the current and emerging media landscape, and
their understanding of the needs and expectations of new consumers positions
Dragonfruit Studios well to create and exploit new audiences and deliver the
right content using the right channels.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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