Spackman Equities Group Appoints New Chief Financial Officer
June 24 2014 - 8:00AM
Marketwired
Spackman Equities Group Appoints New Chief Financial Officer
Management Restructuring in Preparation of Listing of
Entertainment Subsidiary in Singapore
TORONTO, ONTARIO--(Marketwired - Jun 24, 2014) - Spackman
Equities Group Inc. (the "Company" or "SEGI") (TSX-VENTURE:SQG) has
announced today the appointment of Alex Falconer, CPA and CA as the
company's new Chief Financial Officer with immediate effect.
Alex Falconer succeeds Kyoungwon Na, who will continue to serve
as the Chief Financial Officer (CFO) of Spackman Entertainment
Group Limited ("SEGL"). In preparation for the planned listing of
SEGL tentatively targeted for July 22, 2014 on the Singapore Stock
Exchange's Catalist market, the management of SEGI is being
restructured to avoid any conflicts of interest with SEGL.
Mr. Falconer, who is Certified Public Accountant and Chartered
Accountant, has 18 years of experience providing corporate
financial services to public and private companies. He also acts as
the CFO of Rainbow Resources Inc., a publicly traded company on the
TSX, and the CFO of Monarch Resources Inc., a publicly traded
company on the CSX.
Commenting on the appointment, Spackman Equities Group CEO
Charles Spackman said: "As we restructure our management in
preparation for the planned listing of Spackman Entertainment
Group, we're delighted to appoint Alex Falconer as the company's
new CFO. He brings a wealth of experience in finance and will add
local expertise to our team."
About Spackman Equities Group Inc.
Spackman Equities Group Inc. ("SEGI") is an investment holding
company that invests into and develops small/medium-sized growth
companies that possess industry-specific know-how or proprietary
technologies, primarily in Asia. SEGI also makes investments in
selected publicly traded companies that SEGI believes are
attractive investment propositions. The objectives of SEGI are to
(i) invest into or acquire businesses with compelling growth
potential at attractive valuations, (ii) build a diversified and
balanced portfolio of investments, and (iii) deliver the collective
value derived from the performance of its portfolio of investments
to the shareholders of SEGI. As of April 30, 2014, SEGI's holdings
include:
- 44.9% ownership of Spackman Entertainment Group Limited, an
entertainment holding company that wholly-owns Zip Cinema Co.,
Ltd., Opus Pictures Limited Liability Company, and Spackman
Entertainment Korea Inc.;
- 100% of SEGI Investments Limited, an investment company that
invests into Korean public equities; and
- a selective portfolio of marketable securities.
Visit www.spackmanequities.com??? for further information.
About Spackman Entertainment Group Limited
Spackman Entertainment Group Limited ("SEGL") is a leading
entertainment production company that is primarily engaged in the
independent development, production, and financing of theatrical
motion pictures in Korea.
Its two wholly-owned motion picture production subsidiaries,
namely, Zip Cinema Co., Ltd. ("Zip") and Opus Pictures Limited
Liability Company ("Opus"), are two of the most recognized film
production labels in Korea, and have originated and produced some
of Korea's most commercially successful theatrical films for the
past seven years. Films produced by Zip and Opus are theatrically
distributed and released in Korea and overseas markets, as well as
for subsequent post-theatrical worldwide release in other forms of
media, including cable television, broadcast television, IPTV,
video-on-demand, and home video/DVD, etc. Zip and Opus' motion
pictures are released into wide-theatrical exhibition initially in
Korea, and then in overseas and ancillary markets.
Collectively, Zip and Opus produced and released a total of 15
theatrical motion pictures since 2007, the majority of which were
profitable and some of which were among the top grossing films in
Korea in recent years. Recent theatrical releases of our motion
pictures include some of Korea's highest grossing and award-winning
films such as SNOWPIERCER (2013), COLD EYES
(2013), and ALL ABOUT MY WIFE (2012).
SEGL also owns 100% of Spackman Entertainment Korea Inc.
("SEKI"), an investment company incorporated in Korea that makes
early-stage investments into films developed and produced by Zip
and Opus. SEKI also owns a majority equity interest in Upper West
Inc., the operator of a trendy café lounge in Korea's Gangnam
district.
On August 2, 2013, SEGL engaged PrimePartners Corporate Finance
Pte. Ltd. as its Full Sponsor to prepare for an initial public
offering on the Catalist board of the Singapore Exchange. Through
this proposed listing, SEGL plans to raise capital to expand Zip's
and Opus' future slate of productions, make further acquisitions of
production businesses and brands, and for general working capital.
The listing is tentatively targeted for July 22, 2014.
Visit www.zipcine.com and www.opuspictures.com for further
information.
Forward-Looking Statements
Included in this news release may be matters that constitute
"forward-looking" information within the meaning of Canadian
securities law. Such forward-looking statements may be identified
by words such as "plans", "proposes", "estimates", "intends",
"expects", "believes", "may" or words of a similar nature. There
can be no assurance that such statements will prove to be accurate.
Actual results and future events could differ materially from such
statements. Factors that could cause actual results to differ
materially include among others, regulatory risks, risk inherent in
foreign operations, commodity prices and competition. Most of these
factors are outside the control of the Company. All subsequent
forward-looking statements attributable to the Company or its
agents are expressly qualified in their entirety by these
cautionary comments. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims
any intent or obligation to update publicly forward-looking
information, whether as a result of new information, future events
or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) has in any way approved or disapproved of the contents of
this press release.
Spackman Equities Group Inc.Floria Lin+852 3902
3287info@spackmanequities.comwww.spackmanequities.com
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