omniture

In a Strategic Move to Strengthen Its Balance Sheet, ATVG Cancels $4 Million Worth of Convertible Bonds

Asia Premium Television Group, Inc.
2007-09-14 19:23 1135

BEIJING, Sept. 14 /Xinhua-PRNewswire-FirstCall/ -- Asia Premium Television Group, Inc. (OTC Bulletin Board: ATVG), a China-based marketing and ad sales company, announced today that it has come to an agreement with Hershop Limited ("Her Shop") to cancel a total of US$4,000,000 ATVG’s convertible bonds in which they hold. In exchange, ATVG will issue Her Shop 596,766 shares of the Company’s common stock.

This cancellation will eliminate most of the Company’s long-term debt and prevent any possibility of excess dilution due to the convertibility of these bonds. Mr. LiLi, Chairman of ATVG, comments, "We are pleased with the cancellation of these convertible notes as it strengthens our financial base and brings added benefit to existing shareholders." Mr. Li Li adds, "We are currently working to expand our business to include mobile phone-based marketing. We believe that a stronger financial base will provide beneficial support for such business expansion."

The details of the agreement are expanded in the Company’s 8K filed with the Securities & Exchange Commission on September 12, 2007.

About Asia Premium Television Group, Inc.

Asia Premium Television Group, Inc. was incorporated in Nevada in 1989 and is operating in China. The Company’s principal executive offices are located at Suite 602, 2 North Tuanjiehu Street, Chaoyang District, Beijing 100026, People’s Republic Of China: the telephone number is (8610) 6582-7900. Additional information about the Company is available in their 10-k. The information in the 10-k is not incorporated herein by reference.

ASTV, together with its subsidiaries, operates as a single segment business and provides advertising, media and marketing solutions to product manufacturers, service providers and other clients located in China. The Company’s comprehensive products and services range from consumer research and brand management to advertisement production, media planning, public relations and direct marketing services. Adding mobile based marketing as an extension of the Company’s existing marketing and ad sales business. The Company intends to acquire related technology to support this business expansion. They deliver a comprehensive range of solutions that they believe simplify, improve and maximize the effectiveness of multiple phases of their customers’ marketing campaigns, from the inception of an advertising concept, through design, production and targeted distribution, and ultimately to the measurement of advertising effectiveness. The Company’s customers may employ any one of the services available individually or on a combined basis to meet their specific needs.

Source: Asia Premium Television Group, Inc.
Keywords: Advertising
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