Ann: Clarification on Contract with Toomai Africa-TV2.AX, page-2

CLARIFICATION ON CONTRACT WITH TOOMAI AFRICA

TV2U International Limited (“TV2U”, “the Company”) notes the queries that have been raised by various shareholders about the identity of the Chairman of NPBB GROUP, LLC (“NPBB”), Mr. Prosper Honoré Nyetam, following the Company’s announcement on 2 September 2016 that NPBB’s subsidiary, TOOMAI Broadcasting Telecommunication Co Ltd, had selected TV2U to provide its OTT service.

Mr. Nyetam served with the United Nations Youth Organization (Corpi Sanitari Internazionali) for three years as a member of the General Council, conferring upon him the rank and title of Colonel and Internal Affairs & Diplomatic Relations Commissioner of Cameroon, before becoming the Chairman and Operating Manager of NPBB.

TV2U has met Mr. Nyetam a number of times at his London headquarters over the past two months and he is known to one of TV2U’s representative for many years. Further, as with all contracts, TV2U has undertaken its due diligence and the applicable background checks on NPBB GROUP, LLC and Mr Nyetam in order to minimise counterparty risks in relation to the contract.

More significantly, the capex costs in excess of US$1 million to expand TV2U’s infrastructure to service the African market will be paid upfront by TOOMAI prior to TV2U commencing any work to deliver the OTT Service. TV2U has agreed on a revenue share arrangement with TOOMAI in relation to karaoke and advertising, but is not required to, and will not, otherwise make any payments to NPBB GROUP, LLC or its subsidiaries.
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