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HONG KONG, Oct 12, 2014 - (ACN Newswire) - Synertone Communication Corporation ("Synertone" or the "Group"; stock code: 1613.HK) is pleased to announce that Synertone and Templeton Strategic Emerging Markets Fund, an subsidiary of Franklin Templeton Investments, the largest investment institutions in the world, (hereinafter referred to as Templeton) have entered into a legally binding strategic cooperation agreement. According to the agreement, Templeton acquired 6% of issued share capital in Synertone for a total consideration of HK$257 million with HKD 0.678 per share. As a long-term strategic shareholder, Templeton will hold the shares for more than three years and appoint a representative to Synertone as a non-executive director, for the purpose to strengthen a close strategic partnership with Synertone, and fully support Synertone to build up the first "4G mobile satellite telephone communication network system" in China. At present, Templeton has carried out the due diligence process, once it is completed, both parties will act in accordance with the agreement to complete the acquisition of new shares issued by the Synertone by cash. This financing plan will be conducive to improve the shareholding structure, introduce foreign capital, strengthen international cooperation for creating an international strategic development and financing platform for the development and launching of the vast communication system project - "Synertone 2".
 | | Franklin Templeton Invests in Synertone as a Strategic Investor for HK$257 Million |
Templeton is the largest investment institution in the world with an asset size under management of US$850 Billion, Templeton, listed in New York Stock Exchange and belongs to S&P 500 indexes, is an asset management institution with the highest market value of up to US$33 Billion in the world.
Following China Telecom, Citic Group, China Great Wall Industry Corporation and Thaicom, Templeton is another heavy-weighted strategic partner and investor fully supporting Synertone in developing its "4G Mobile Satellite Telephone Communication System" which enjoys an enormous commercial market. At present, only China fisher boats have more than over 1.06million which pose great demand on mobile satellite communication with a bandwidth requirement of 30GBPS or above. Also, there are over 2.45million nationwide traveling long-haul tour buses demanding for mobile satellite WIFI communication with a bandwidth requirement of 250GBPS or above in China. There are also tens of thousands of cargo vessels, tens of thousands of land-based mobile communications base station data backhaul, high-speed WIFI, aviation WIFI, field operations, emergency satellite communications, etc. which are driving huge and urgent demand for "4G mobile satellite telephone communication network system" with up to hundreds of GBPS bandwidth resources.
The investment of Franklin Templeton is a key milestone of the Group which signifies the enormous market potential of commercializing "4G mobile satellite telephone communication network system" is well recognized by first class international investment institutions. In the coming few years, Synertone will enter into a new phase of growth with rapid development.
Topic: Press release summary
Source: Synertone Communication Corporation
Sectors: Media & Marketing, Daily Finance, Daily News
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