CORNERSTONE FIN (08112) announced that on September 17, 2025 (after trading hours), the seller Focus Media Network Limited (a direct wholly-owned subsidiary of the company) entered into a sale and purchase agreement with the buyer Excellent Investment Services Limited. Under the agreement, the seller has conditionally agreed to sell and the buyer has conditionally agreed to purchase the sale shares (being all issued share capital of the target company held by the seller as the registered holder and beneficial owner of the target company) for a total cash consideration of HK$3 million.
The target company, Focus Media Singapore Pte. Limited, is a limited company incorporated in Singapore and a direct wholly-owned subsidiary of the seller, primarily providing outdoor advertising services in Singapore.
The advertising industry is experiencing structural transformation, consistent with a significant shift in the marketing landscape from traditional media spending to online and social media platforms. Considering the target company's financial performance and the evolving business environment, the group believes that entering into the sale and purchase agreement and the proposed disposal thereunder will: (i) provide the group with an opportunity to realize a premium above the book value of the target company; (ii) enable the group to streamline operations and allocate management and financial resources to markets where the group has stronger local professional advantages; (iii) generate immediate cash inflow to enhance the group's overall working capital and meet funding requirements for future business development; and (iv) align with the group's business strategy, allowing the group to maintain resilience during business development and preserve financial resources when growth-potential business opportunities arise.
