(PAA) Parallel Media
Summary
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| 30-04-12 | PRN |
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30 April 2012 Parallel Media Group PLC ("PMG" or the "Company") Record crowds attend the Ballantine's Golf Championship Following the completion of PMG's 2012 Ballantine's Golf Championship yesterday in Korea, PMG is delighted that the tournament was a huge success with Bernd Wiesberger from Austria winning the tournament with two course records of 65 on rounds 2 and 3. PMG had a record number of visitors attend the tournament held at Blackstone Golf Course, with 45,203 visitors over the four days. More than 23,000 of those attended on the final day. The tournament generated revenues for PMG of USD 8,822,000, up 5% compared with 2011. David Ciclitira, Chairman of PMG, says: "It has been a great weekend for PMG with the completion of the 5th and most successful Ballantine's Championship to date. We look forward to building on this success with our Title Sponsor Ballantines for next year's tournament in Korea" Bernd Wiesberger, 2012 Ballantine's Champion,said: "Every sportsman dreams about winning, especially a tournament that was so well organised and had such great players in the field" -End- For further information, please contact: Parallel Media Group plc 020 7225 2000 David Ciclitira Northland Capital Partners Limited 020 7796 8800 Luke Cairns, Edward Hutton Novus Capital Markets Limited 020 7107 1881 Nicholas Lee Bishopsgate Communications 020 7562 3350 Deepali Schneider, Lynne Goulding pmg@bishopsgatecommunications.com END More |
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| 26-04-12 | PRN |
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26 April 2012 Parallel Media Group PLC ("PMG" or the "Company") K-pop joint venture and issue of equity PMG, the AIM quoted sports media and digital agency, is pleased to announce that Parallel Smart Media Asia Alpha Entertainment Pte Limited ("PSMAA"), a newly incorporated company 50% owned by Parallel Smart Media Asia Pte. Ltd, has entered into an agreement with CJ E&M to bring Korean Pop ("K-pop"), the highly successful Asian music genre, to Singapore. CJ E&M, which is listed on the Korean Stock Exchange, is a leading Korean media and entertainment company, focusing on broadcasting, movies, game development, and music and concert businesses. It has a market capitalisation of approximately KRW 1.0 trillion (£540m) and revenues in 2011 of KRW 1.14 trillion (£620m). This new joint venture continues PMG's expansion into Asia. Following the establishment of Singapore-based PSMA in March of this year, PMG's strategy is to promote the K-pop genre initially by arranging three concerts - for the artists Shinwha, Wonder Girls and 2pm. The chance to partner with CJ E&M on delivering these concerts is a unique opportunity for PSMAA. PSMAA is a 50/50 joint venture between Parallel Smart Media Asia Pte. Ltd ("PSMA") and the Singapore and Korea based HW Alpha PTE Ltd. PSMA is 51% owned by PMG. The Company also announces it has conditionally placed 1,430,000 shares at 35p per share with Mr. Henry Wee to raise SGD 1,000,000 (approximately £500,000) (the "New Ordinary Shares"). Mr. Wee has been granted an option to subscribe for a further 1,430,000 shares at 35p, valid for 18 months. Mr. Wee, a major shareholder in HW Alpha PTE Ltd, was formerly a banker in an international bank in Singapore. Some £300,000 (SGD 600,000) of the proceeds will be loaned to PSMAA for working capital. Application will be made for admission of the New Ordinary Shares to trading on AIM ("Admission"). Admission is expected to occur on or around 2 May 2012. The New Ordinary Shares will rank pari passu with the existing ordinary shares. Following Admission, there will be 22,912,346 ordinary shares in issue. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company. David Ciclitira, Chairman of PMG says: "We are very pleased to continue our expansion into Asia with PSMAA, which will initially deliver three K-pop concerts in Singapore in 2012. As our Parallel Smart Media division is relatively new, we see this as significant progress. The artist Shinwa recently sold out their come back concert in 40 minutes generating KRW 2 billion (£1.1m) in income. We look forward to expanding in 2013 with CJ K-pop concerts into other Asian territories." "This is a very exciting time for PMG especially as it is the week of The Ballantine's Championship, Korea's number one golf tournament." -End- For further information, please contact: Parallel Media Group plc 020 7225 2000 David Ciclitira Northland Capital Partners Limited 020 7796 8800 Luke Cairns, Edward Hutton Novus Capital Markets Limited 020 7107 1881 Nicholas Lee Bishopsgate Communications 020 7562 3350 Deepali Schneider, Lynne Goulding pmg@bishopsgatecommunications.com Notes to Editors: About PMG and PMSA Parallel Media Group plc (PMG) is a leading sports marketing, media and event management company, which has been involved in a diverse range of projects from sports to music. Parallel Smart Media, PMG's digital arm brings innovative digital solutions to the sport and entertainment world. Parallel Smart Media Asia (PMSA) is 51% owned by PMGand operates from PMG's new office in Singapore. About K-pop Korean Pop (K-pop) is a musical genre consisting of pop, dance, electropop, hip hop, rock, R&B, electronic music, and has become one of South Korea's most notable exports in recent years. Its audience is largely female, from early teens through to late 20s. It has been making inroads into Europe, an expansion that has been noticed by the big corporations, such as iTunes, which started selling K-pop to European audiences early in 2010, and Google which is planning to set up a K-pop channel. END More |
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| 27-03-12 | RNS |
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RNS Number : 1069A Parallel Media Group PLC 27 March 2012 27.03.12 Parallel Media Group PLC
("PMG" or the "Company") PMG expands into Asia through creation of Parallel Smart Media Asia PMG, the AIM quoted sports media and digital agency, is pleased to announce that Parallel Smart Media ("PSM"), which is 50% owned by PMG, is expanding into Asia via the creation of Parallel Smart Media Asia Pte Limited ("PSMA"), which operates from PMG's new office in Singapore. This follows the opening of Parallel Media Group's Korean division, Parallel Media Korea ("PMK") announced in July 2011, and demonstrates the Company's continued focus on the fast-growing Asian markets. PMG will have a 51% share in PSMA, with Urban Strategic Private Limited (owned by Ranjit Murugason, a non-executive director of PMG and via Urban Strategic Private Limited a 6.45% shareholder in PMG) owning 25% and local management owning the remaining 24%. Both PMG and Ranjit Murugason have provided the start-up working capital for PSMA. PSMA will utilise PSM's smart media platforms and its core business areas will be sponsorship rights, acquisition and sales, out of home advertising sales, as well as entertainment and art projects. PSMA continues to recruit a new team of top executives with years of experience in packaging, selling and servicing sponsors across the Entertainment, Sports and Arts sectors. Toh Jin Wei, has joined as Managing Director, and Ben Pember as Head of Sales Asia Pacific. Toh Jin Wei joins PSMA from the Sports Marketing agency IMG Singapore where he worked with both IMG Consulting and IMG Golf as Vice President, Director of Sales. During his time with IMG Singapore, Jin Wei was involved in various key projects for IMG, including its joint venture with The Asian Tour in golf and other successful sponsorship campaigns such as The Lion King at Marina Bay Sands. From 2004 through 2008, Jin Wei led the sales team for one of the world's biggest conference companies, IQPC Singapore. Jin Wei holds a Bachelor of Arts degree in Communications and Media Management from the University of South Australia. Ben Pember joins PSMA from the position of Sales Director for Singapore-based IMG Golf, where he managed the sales team for the Asian Tour Joint Venture. Prior to his tenure as Sales Director, Ben held various positions in IMG, culminating in his appointment as the Tournament Director of a number of Asia Pacific's largest golf events. Ben began his career with Parallel Media Group in Asia in 2005 working on PMG's portfolio of European Tour events. The new business will also focus on the development of the highly successful Asian music genre, KPOP, promoting and organising concerts in the Asia Pacific territory and granting sponsors access to some of the best properties in the arts and musicals scene. PSMA has already developed a relationship with the Singapore based Marina Bay Sands, which is one of the two licensed Singapore integrated casino and leisure resorts that last month announced record profits and revenues. Ranjit Murugason, a former leading investment banker in the infrastructure sector, worked for Nomura, UBS and ABN AMRO in London. Ranjit also served as Global Head of Industrials for the Investment Banking Division of ABN AMRO Bank NV until he left the city in the summer of 2003. Ranjit Murugason comments: "I am delighted to be part of PMG's expansion into Singapore and look forward to a very successful partnership." David Ciclitira, Chairman of PMG says: "We are very excited to be expanding our relatively new Smart Media division into the Asian market, to take advantage of the opportunities that the entertainment industry in Asia has to offer, as well as working with great teams and partners. "PMG is delighted to open our Singapore office which will allow us, with the office in Korea, to cover a good deal of the Asian region and enhance our geographic spread. I am very excited about opening new revenue streams based in the area of entertainment. We have seen the phenomenal growth of KPOP in the past 12 months. I think this is a significant step for the Company in Asia and gives us the opportunity to widen beyond our traditional strength of golf." -End-
For further information, please contact: Parallel Media Group plc 020 7225 2000 David Ciclitira
Northland Capital Partners Limited 020 7796 8800 Luke Cairns, Edward Hutton
Novus Capital Markets Limited 020 7107 1881 Nicholas Lee
Bishopsgate Communications 020 7562 3350 Deepali Schneider, Lynne Goulding pmg@bishopsgatecommunications.com
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 01-03-12 | RNS |
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RNS Number : 4090Y Parallel Media Group PLC 01 March 2012 01 March 2012 Parallel Media Group PLC ("PMG" or the "Company") PMG announces Italian joint venture Company Appointment of new Group Creative Director Parallel Media Group, the AIM quoted sports marketing and digital agency, is pleased to announce the expansion of its business in Italy, following the signing of a joint venture agreement with Italian Sports Media agency, Media Makers, and the appointment of Pier Luigi Stefani to a newly created role as PMG's Creative Director.
The new JV company will be called Parallel Media Italia (PMI) and will focus on event development as well as promoting projects in the sport, entertainment, arts and new media sectors.
As well as continuing PMG's traditional business of sport promotion, PMI will launch two new Divisions, an Entertainment and Music Division focusing on the development of the highly successful Asian music genre, KPOP to the European market place and a New Media Division offering digital solutions originated by PMI's sister company, Parallel Smart Media to the Italian sport and tourism sectors.
PMI's office in Milan will also concentrate on developing marketing and communication opportunities for the 2015 Milan Expo, as well as the provision of event management and logistics services. PMI will be headed up by PMG's new Creative Director, Pier Luigi Stefani. Pier Luigi, who is also a journalist and broadcaster, has a wealth of experience in the media industry where he is best known for starting VideoMusic, the first music television channel in Europe designed for a young audience.
Pier Luigi will be supported by his colleague, Paolo Cassera, who has a wealth of experience in the sport and entertainment industry with a proven track record working with Juventus Football Club and the NBA in Europe
Chairman of PMG, David Ciclitira, says:
"We are excited about our joint venture with Media Makers and the opportunities it will expose us to in the Italian market. I have known Pier Luigi and Paolo for many years and am extremely pleased they will be joining the team. As well as heading up our office in Italy Pier Luigi will also take on a new role as PMG's Creative Director overseeing all areas of music and entertainment within the Group.
"We are operating in a very exciting time where we are witnessing both the growth of Italian luxury brands in the Asian market as well as the growth of Asian investment in Italy, I believe that PMG is uniquely placed to take advantage of these growing trends which will undoubtedly be at forefront of a very successful Milan Expo in 2015."
-End- For further information, please contact: Parallel Media Group 020 7225 2000 David Ciclitira Parallel Media Italia +39 (0) 22 951 2596 Pier Luigi Stefani
Northland Capital Partners Limited 020 7796 8800 Luke Cairns, Edward Hutton
Novus Capital Markets Limited 020 7107 1881 Nicholas Lee
Bishopsgate Communications Deepali Schneider, Lynne Goulding 020 7562 3350 pmg@bishopsgatecommunications.com
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 09-05-12 | ||||
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Cover story The Korean craze that is about to sweep the nation ( Heading of cover article in big block capitals) Then goes on to describe a group called "Girls Generation " on The Late Show with David Letterman-the show reported by the LA Times. The article then defines KPOP "It originated in South Korea but has now branched out and is experiencing booming recognition and success across the globe, including America. It combines a synergy of fast-moving pop culture alongside cutting-edge media technology." The article concludes by saying that "If K-Pop has made it onto American TV, you can bet that it is only a matter of time before we see it over here, and one man who wants to make this happen is David Ciclitira." Main Article Ciclitira is chairman and the major shareholder of AIM-quoted Parallel Media (AIM:PAA) Talks about the KPOP concert for the group Shinhwa and the 2 follow on concerts for The Wonder Girls and 2pm in conjunction with CJ E&M, pointing out the diversification from Golf. Mentions a concert selling out in 40mins taking £1.1m. The phone conversation was from Korea during the Ballantines attracting crowds of 45000 and DC estimates that the tournament alone justifies the current sub £4m price tag on the company. "Unlike many tournaments that must be renegotiated regularly with the European Tour, Parallel has the Korean event in perpetuity. Although the European Tour retains the international TV rights, Parallel is able to sell the local TV rights, as well as tickets for the event. But the majority of the event’s revenue comes from sponsorship. Ballantines, one of many brands keen to tap the Asian thirst for Western luxury, is the lead sponsor, and this year’s event generated £5.4m of revenue for Parallel and a profit thought to be in the region of £1m." The article then goes on to talk about Henry Wee investing in PAA at 35p per share obviously aware of the Ballantines success and the new KPOP venture "This now will be the focus for Parallel Media. While it will continue to run golf tournaments, Parallel is intent now upon exploiting the opportunity in entertainment." The article then talks about Parallel Smart Media created at a cost of $5m with their Korean partner Talspace Inc " The initiative incorporates live high definition video screening coupled with e-commerce facilities, high definition image galleries and the ability to integrate into social networks. The bottom line is that it enables anybody to start up their own TV channel and broadcast it in multiple languages to any smart media platform or viewing device. It has obvious appeal for entertainers or football clubs for example, but early adopters are likely to be luxury goods brands and special interest groups such as classic car enthusiasts." In summary the article points out the low profile of PAA which is to change, wants UK investors to grasp the possibilities of KPOP. " The confluence of sport and entertainment, the drive of luxury goods into the Asian market and the new digital media technologies make for an interesting cocktail." |
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| 04-05-12 | ||||
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nice to see another blue day
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| 03-05-12 | ||||
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on such little volume???
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| 02-05-12 |
Buy
Re: UP 21.8%
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And the rest mate KPOP is huge in asia.
35p placing last week with Henry Wee the ex Singapore banker plus new JV with company worth over 500 mil Shares tightly held and results this month and record crowds at this years Ballantines championship. Our Market CAP £3m Gl All |
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