TORONTO, ONTARIO and HONG KONG, HONG KONG--(Marketwired - Jan. 17, 2014) - Spackman Equities Group Inc. ("SEGI" or the "Company") (TSX VENTURE:SQG) announced today that it has invested USD 1 million into the convertible notes of UAA Korea Co., Ltd. ("UAA"), a leading talent management agency in Korea that represents some of Korea's top film stars including Song Hye-kyo, Kang Dong-won, and Yoo Ah-in. Song is one of Korea's most renowned actresses and is a frontwoman of the Hallyu, "Korean Wave", a movement that has propagated Korean content throughout Asia and beyond.
The USD 1,000,000 of Convertible Notes issued by UAA to SEGI have a maturity of 1 year, an interest rate of 7% per annum, and are convertible into common shares of UAA at a conversion price of USD 200 at any time before maturity.
The Company also announced the appointment of Kyoungwon Na as its Chief Financial Officer.
Mr. Na has also been appointed as Chief Financial Officer of the Company's 55.4% owned subsidiary, Spackman Entertainment Group Limited, which is planning to list its shares on the Catalist board of the Singapore Exchange in the first half of 2014.
Mr. Na is a member of ISCA (Institute of Singapore Chartered Accountants) and KICPA (Korean Institute of Certified Public Accountants). Prior to joining the Company Mr. Na worked for over ten years with KPMG in both Korea and Singapore. He has an MBA in Accounting from Seoul National University and a B.Eng. in Material Science and Engineering from Seoul National University.
Mr. Na replaces Jenifer Cho who has resigned as Chief Financial Officer. Ms. Cho has been the Company's Chief Financial Officer since October, 2011 and the Company thanks her for her valuable service.
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 proprietary technologies or industry-specific know-how, 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. Currently, SEGI's holdings include:
||55.4% ownership of Spackman Entertainment Group Limited, an entertainment holding company that wholly-owns two leading Korean movie production companies, Zip Cinema Co., Ltd. and Opus Pictures Co., Ltd.;
||100% of SEGI Investments Limited, an investment company that invests into Korean public equities;
Visit www.spackmanequities.com for further information.
About UAA Korea Co., Ltd.
UAA Korea Co., Ltd. ("UAA") is a talent management agency in Korea that was established on June 18, 2012 by veterans of the entertainment and legal professions. UAA currently represents some of Korea's top entertainers including Song Hye-Kyo, Kang Dong-won, and Yoo Ah-In. In addition, UAA has forged formal partnerships with film producer Terence Chang's ATN Talent Management Limited of China and EFFIGIES of France in its efforts to expand its business to overseas markets. By pursuing an integrated content strategy, UAA aims to become a leading artist management agency that advises and guides the careers of an elite roster of film/TV actors, singers, directors, writers and producers.
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