Asian business developement
26 April 2007 - 9:00PM
UK Regulatory
RNS Number:5632V
Europe Vision PLC
26 April 2007
Europe Vision plc
(The 'Company')
Update on Asian business development
Europe Vision, the AIM listed studio-to-screen European media company, announces
that it has continued to develop its business in the Far East after its
appointment to manage a cinema and studio complex outside Ho Chi Minh City in
Vietnam.
The Company will undertake feasibility studies for the introduction into Beijing
and/or Shanghai of the leisure city, film and real estate blue print established
in Morocco.
In Beijing the Company has entered into an agreement with Hong Kong based Peak
Consult whereby the latter will source and invest land for the construction of
cinema, themed attractions, real estate and studio facilities to be managed by
Europe Vision in return for grant of worldwide distribution rights (ex China)
for all content produced.
In Shanghai the Company has been offered land to develop cinema and studio
complexes by the Expo Shanghai Corp and The Shanghai Land Development Corp, both
of which are arms of local government.
Shanghai is already gearing itself for World Expo 2010 where the authorities are
projecting an influx of over 20 million visitors; however the authorities are
sensitive to what will happen after the event is over. The Expo authorities have
as part of their mission statement the promotion of cultural industries and
Europe Vision's activities in motion picture making and distribution fall
squarely within this aim.
The Shanghai Land Development Corp recently pulled-out of a deal with Universal
Studios of the US to build a theme park on land adjacent to the Expo site.
Europe Vision has been invited to conduct its own feasibility study as to the
creation of a development similar to Morocco Film City, which the Company is
currently involved with on behalf of Tritel Management.
David Lowe, Chairman of Europe Vision, said: "Both the local Chinese and the
international tourism markets within China are enormous and we are extremely
interested in the worldwide potential of China now that it is opening itself to
the world and exchanges with the West."
"These relationships with important local institutions will give a tremendous
foothold in China for distribution of our product and we very much hope to be
instrumental in enlarging the scope for distribution of Chinese cinema around
the world."
- Ends -
Enquiries:
Europe Vision plc
David Lowe, Chairman
Bell Pottinger Corporate and Financial
Olly Scott 078 1234 5205
This information is provided by RNS
The company news service from the London Stock Exchange
END
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