Print   



Date:	5 November 2009
On behalf of:	Galleon Holdings plc (‘Galleon’, ‘the Company’ or ‘the Group’)
Embargoed until:	0700hrs

 

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 following its acquisition of Changsha High and New Technology Industrial Development Zone Yunbo Information Technology Co. Ltd ("Yunbo"), a leading mobile services provider in China, in February 2008, a final earn-out payment is to be satisfied by the issue and allotment of 24,559,411 Galleon ordinary shares with a nominal value of 1p per share.

Galleon acquired Yunbo to strengthen the Group's media infrastructure in emerging markets and to provide complete multi-platform media solutions to Chinese broadcasters.  

The Company has applied for the new shares to be admitted to trading on AIM and admission is expected to occur at 8 am on 9 November 2009.

Stephen Green, CEO of Galleon Holdings, said:

 "We are delighted that Yunbo has been so successfully integrated into our organisation. Strategically Galleon now has an established channel of distribution to the Chinese media consumer and this is of great value to the Company going forwards"

Enquiries:

Galleon Holdings plc	www.galleonplc.com
Stephen Green, Chief Executive	Tel: 020 8742 3636
Cenkos Securities (Nominated Adviser & Broker)
Ken Fleming / Jon Fitzpatrick	Tel: 0131 220 9772 / 0131 220 9773
Redleaf Communications	Galleon@redleafpr.com
Samantha Robbins / Mike Ward	Tel: 020 7566 6700

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:

• 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.

• 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).

• Apollo's Pad - a multiplatform young adult sitcom that airs on Bite TV in Canada and includes a content rich online offering.

• Sokator-442 - a multi-player intergalactic football (soccer) management game that combines tactical thinking with fantasy/sci-fi gameplay.

ENDIOEBIBRTMMIMBAL