TechMedia Advertising, Inc. Completes Acquisition of TechMedia Advertising Mauritius
08 August 2009 - 4:35AM
PR Newswire (US)
SINGAPORE, Aug. 7 /PRNewswire-FirstCall/ -- TechMedia Advertising,
Inc. (OTC:TECM) (BULLETIN BOARD: TECM) ("TechMedia" or the
"Company") is pleased to announce that on August 6, 2009, the
Company completed the Share Exchange Agreement, dated July 27,
2009, entered into between the Company, TechMedia Advertising
Mauritius ("TM Mauritius") and all the shareholders of TM Mauritius
(the "Share Exchange Agreement"), whereby the Company acquired 100%
of the issued and outstanding shares in the capital of TM Mauritius
in exchange for the issuance of 24,000,000 shares of the Company's
common stock in aggregate to the shareholders of TM Mauritius on a
pro rata basis in accordance with each TM Mauritius shareholders'
percentage ownership in TM Mauritius. As a result of the completion
of the Share Exchange Agreement, TM Mauritius became a wholly-owned
subsidiary of the Company. TM Mauritius is the sole beneficial
owner of TechMedia Advertising (India) Private Limited, a company
organized under the laws of India, which is engaged in the
development stages of selling outdoor advertising on billboards and
digital signs in India located in high traffic locations, which
locations range from transportation vehicles, commercial buildings,
supermarkets and restaurants, by partnering with media space
owners. In addition, concurrently with the completion of the Share
Exchange Agreement, by a letter agreement entered into on July 30,
2009 (the "Letter Agreement") between the Company and Mr. Alan Goh,
the Company's current Secretary and director and former President,
CEO, CFO and Treasurer, Mr. Alan Goh cancelled 24,000,000 shares of
the 26,400,000 shares of common stock of the Company registered in
his name. After the cancellation of shares by Mr. Alan Goh and the
issuance to the former TM Mauritius shareholders, the issued and
outstanding shares of common stock in the Company is 44,919,000
shares. In connection with the closing of the Share Exchange
Agreement, Mr. Alan Goh resigned as the President, CEO, CFO and
Treasurer of the Company and Mr. Johnny Lian Tian Yong was
appointed as the President, CEO, Chairman and a director of the
Company, Mr. William Goh was appointed as the Treasurer and a
director of the Company and Mr. Ratner Vellu was appointed as a
director of the Company. Mr. Alan Goh remains as the Secretary and
a director of the Company. The appointment of Messrs. Johnny Lian,
William Goh and Ratner Vellu as directors of the Company does not
take effect until August 14, 2009. Johnny Lian Tian Yong is
currently a director of Affinity Gold Corp., a mineral exploration
company concentrating on gold exploration in Peru and Latin America
(OTC:AFYG) (BULLETIN BOARD: AFYG) , and the Chairman of JAS
Singapore Group of Companies, a Singapore corporation, that has
subsidiary and affiliate businesses spanning more than 13 countries
covering medical and hospitality services, finance and investments,
logistics, human resources and professional development, green
technologies and information technology services. Mr. Lian has been
the Chairman of JAS Singapore Group of Companies since October
1992. Ratner Vellu is currently a proprietor of M/s Ratner
Associates (Advocates & Solicitors) (2000 to present),
specializing in finance, insurance and corporate law. Mr. Vellu has
advised Singapore based clients on establishing a joint venture
projects in India and China. Mr. Vellu received his Bachelor of
Laws (Honors) from the University of London in 1994 and is a
Barrister-At-Law of Gray's Inn (1995), an Advocate and Solicitor of
the Supreme Court of Singapore (1997) and a Commissioner for Oaths
(2008). William Goh Han Tiang has been a business development
director of One Equity (Singapore) Pte. Ltd. since February 2006,
which is engaged in business development to prospect for mergers
and acquisitions and initial public offerings in Asia. From April
2005 to Sep 2005, Mr. Goh was the Team Head of Relationship
Management for Orix Leasing Singapore Ltd., which is engaged in
business development to prospect for new asset financing business
in Asia. Mr. Goh is an experienced banker of 11 years, having held
positions at Sakura Bank, Chase Manhattan Bank, United Overseas
Bank and Development Banks of Singapore since 1995. During this
period, Mr. William Goh has accumulated a wealth of experience in
the areas of credit, corporate banking to advisory banking, and
facilitating clients operating businesses in China. Mr. William Goh
graduated from the National University of Singapore (NUS), in 1995
with a Bachelor of Business Degree (Merit). For further information
please refer to the Company's filings with the SEC on EDGAR
available at http://www.sec.gov/. Contact: TechMedia Advertising,
Inc. Investor Relations 1-415-508-3886 FORWARD LOOKING STATEMENTS
This news release may include "forward-looking statements"
regarding TechMedia Advertising, Inc., and its subsidiaries,
business and project plans. Such forward looking statements are
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and section 21E of the United States Securities and
Exchange Act of 1934, as amended, and are intended to be covered by
the safe harbor created by such sections. Where TechMedia
Advertising, Inc. expresses or implies an expectation or belief as
to future events or results, such expectation or belief is believed
to have a reasonable basis. However, forward-looking statements are
subject to risks, uncertainties and other factors, which could
cause actual results to differ materially from future results
expressed, projected or implied by such forward-looking statements.
TechMedia Advertising, Inc. does not undertake any obligation to
update any forward looking statement, except as required under
applicable law. DATASOURCE: TechMedia Advertising, Inc. CONTACT:
Investor Relations of TechMedia Advertising, Inc., +1-415-508-3886
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