Entry for STT List
LAT
20mill mc
2 mill in bank
Highlights from quarterly
? Proposed acquisition of 100% of the mig33 social entertainment
platform announced on 23 January 2014.
? Project Goth Inc. (PGI) the holding company for mig33 acquires in
early February 2014 alivenotdead.com, a major Asian artist and
entertainment management group with a reach of over 1,800 artists.
? Latin Gold announces on 30 April 2014 that PGI has reached
agreement with FIH Mobile Limited (FIH) for FIH to make an initial
investment of US$2.2 million through a mix of existing securities and
subscribing to the rights in new shares in PGI. Subject to Latin Gold
shareholder approval and the completion of the proposed merger with
the mig33 group, an additional US$7.4 million will be invested by FIH
through the issue of 40 million new Latin Gold shares, at an issue price
of A$0.20 per share on a post 1 for 5 consolidation basis.
? mig33 is a social entertainment platform with over 3 million monthly
active users and with services that includes miniblog, chat, chatrooms,
virtual gifts and games and is available on Android, WAP and Web.
? The platform is monetising and is targeting internet users in emerging
markets representing over 3.5 billion people and the next frontier of
growth in the internet.
? Latin Gold relinquishes right to Narracoota joint venture.
FIH Mobile Limited
On 30 April 2014 Latin Gold announced that the mig33 group, via its holding
company Project Goth Inc. (PGI) had secured a US$2.2 million investment,
from FIH Mobile Limited (FIH). This investment will be by the purchase of
existing PGI securities and subscribing to the rights to new shares in PGI.
Subject to the receipt of Latin Gold shareholder approval and the successful
completion of the merger between the mig33 group and Latin Gold, an
additional US$7.4 million will be invested by FIH via the placement of 40 million
Latin Gold shares (on a post 1 for 5 consolidation basis) at an issue price of
A$0.20 per share.
FIH is a vertically integrated manufacturing service provider for the handset
industry worldwide. It provides a wide range of manufacturing services to its
customers in connection with the production of handsets. Hon Hai Precision
Industry Company Limited (Hon Hai) is the ultimate controlling shareholder of
FIH, and Hon Hai and its subsidiaries (as a group commonly known as the
Foxconn Technology Group) is the leading global manufacturing service provider in the 3C (computer, communication and consumer electronics)
industries.
FIH is listed on the Hong Kong exchange, with a market capitalisation of over
US$4 billion and has annual revenues of around US$132 billion and a market
capitalisation of approximately US$33.7 billion.
The introduction of FIH as a significant shareholder into “migme Limited” (the
proposed name of the merged mig33 and Latin Gold group of companies)
will provide the Company with the opportunity to substantially accelerate its
growth plans. This includes the planned establishment of a development
centre in Taiwan, where Hon Hai is based, which will be focused on business
development and extending the Company’s reach into the mobile
telephony network.
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