18/9/09
Motion Network Holding Plc
(“MNH ” or “the Company ”)
Trading Update
Motion Network Holding Plc is currently pursuing its ongoing
work in researching and identifying potential acquisition
targets within the media sector.
The Company is currently engaged in negotiations with two
Ukrainian TV Channels,namely,UBC which stands for “Ukrainian
Business Channel ” and KRT which stands for Kievrus TV.The
company is looking to acquire via a share offer,20%of each of
KRT and UBC.Both KRT and UBC are currently owned by a
Ukrainian national,Gennady Vasiliev.Gennady Vasiliev is a
high net worth individual and has been named this year as the
21 st richest man in Ukraine (source:Korespondent.net).
It is the Board ’ s intention that if negotiations prove
successful,MNH will result in owning 20%of KRT and UBC.MNH ’ s
Balance Sheet will be stronger and more able to achieve a sound
fundraising structure.In the case of KRT and UBC,MNH will be
their international gateway to Europe.
The execution plan is as follows:
1.Agree Heads of Terms
2.Complete due diligence
3.Execute the share for share exchange for 20%of UBC and KRT
4.Secure fundraising and commence the domestic roll out of
MNTV
5.Launch MNTV Ukraine in the Autumn of 2009.
6.Following this,then quarterly one representative in
Eastern Europe will be launched in Belarus,Russia,
Moldova,The Baltics,Romanian,Bulgaria.
About UBC:-
· UBC,Ukraine ’s leading financial television channel.With
real-time coverage of financial markets and international
business news,UBC provides business leaders,investors and
the financial services industry across Ukraine and
worldwide with the information and analysis they need.
· 85%of the broadcast comes from UBC ’s own production.
· Currently UBC has over 8 million viewers
· Broadcasting takes place via satellite SIRIUS-IV,12073
Mhz,Horizontal polarization,27.5 MB /sec,FEC ¾,and