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Court Rules Against NCC's Decision To Reject Da Da Digital's Proposed Acquisition Of 65% Interest In The Trustee-Manager Of APTT

BackJan 11, 2024
Announcement Title General Announcement
Date & Time of Broadcast Jan 11, 2024 21:55
Status New
Announcement Sub Title Court rules against NCC's decision
Announcement Reference SG240111OTHR0CM0
Submitted By (Co./ Ind. Name) BRIAN MCKINLEY
Designation CHIEF EXECUTIVE OFFICER
Effective Date and Time of the event 11/01/2024 21:55:00
Description (Please provide a detailed description of the event in the box below) Please see attached.

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No PRC Person shall hold or control Units in Asian Pay Television Trust in breach of the PRC Investment Restrictions and no Restricted Party shall hold or control Units in breach of the Taiwan Government Ownership Restrictions. The Trustee-Manager may, in the case of a breach of the PRC Investment Restrictions and/or the Taiwan Government Ownership Restrictions and/or where a corporate entity which provides cable television services in Taiwan (as determined by the Trustee-Manager in its sole discretion) holds or acquires more than one-third of the total issued Units, take all steps and do all things as they may in their absolute discretion deem necessary to ensure that the restrictions thereunder are complied with. In particular, the Trust Deed provides that the Trustee-Manager has the power to require the relevant Unitholders to dispose of their Units and, if such request is not complied with within 21 days after such request (or such shorter period as the Trustee-Manager shall consider reasonable), the power to arrange for the sale of the Units. Pending such sale, the Trustee-Manager has the power to suspend the voting rights of such Units and/or to restrict the transfer of such Units. The Trustee-Manager shall not be required to give any reason for, and shall not under any circumstances be liable to or be responsible for any losses incurred by, any person as a result of, any decision, declaration or action taken or made in this regard.