SearchMedia Appoints Peter W. H. Tan to Board of Directors
June 30 2011 - 5:33PM
Marketwired
SearchMedia Holdings Limited ("SearchMedia" or the "Company") (NYSE
Amex: IDI) (NYSE Amex: IDI.WS), one of China's leading nationwide
multi-platform media companies, today announced that Mr. Peter W.
H. Tan has been appointed to the Company's Board of Directors. Mr.
Tan brings more than fifteen years of global investment, corporate
finance and corporate law experience to SearchMedia.
Peter Tan is currently the chairman of TGC Partners Limited and
managing director of TGC Financial Partners Limited, an investment
advisory firm which he founded in 2009. He was also partner and
part of the founding team of SIG China, the China-based private
equity fund of leading U.S. hedge fund Susquehanna International
Group (SIG). Mr. Tan has been actively involved in more than 40
investments in China, 12 of which were eventually listed on
international stock exchanges. He has been particularly active in
China's media space over the past decade, and was an early investor
in Airmedia (NASDAQ: AMCN) and other China media companies. Mr. Tan
formerly served as a board member or observer of multiple companies
prior to their U.S. listing, including Home Inns (NASDAQ: HMIN),
E-House (NYSE: EJ) and Bona Entertainment Group (NASDAQ: BONA). He
was also a director at Ocean Butterflies International and
51credit. Mr. Tan is currently a director of Cathay Industries, a
specialty chemical manufacturer based in China. He is based in
Shanghai and speaks fluent English, Mandarin and Cantonese.
Prior to co-founding SIG China, Mr. Tan was a lawyer with White
& Case LLP and Perkins Coie LLP, where he was qualified to
practice in England, Hong Kong and Singapore, and where he founded
the private equity & venture capital practices and advised
emerging-growth companies on fund raising transactions throughout
their lifecycle.
Paul Conway, Chief Executive Officer of SearchMedia, stated,
"Peter is a leading specialist on public and private equity and
venture capital investments in Greater China and he is particularly
knowledgeable about China's media and entertainment space. We are
finding that smaller mainland media companies have less and less
access to the U.S. capital markets and, as such, the M&A
environment is increasingly compelling. We intend to utilize
Peter's strengths to help us aggressively pursue accretive
acquisitions and opportunities in the future."
In connection with Mr. Tan's appointment, Glenn Halpryn has
resigned his position as a member of the Board of Directors in
order to meet certain obligations under the Voting Agreement dated
October 29, 2009 entered into by certain former shareholders of
Ideation Acquisition Corp. and certain former shareholders of
SearchMedia International Limited.
About SearchMedia SearchMedia is a leading
nationwide multi-platform media company and one of the largest
operators of integrated outdoor billboard and in-elevator
advertising networks in China. SearchMedia operates a network of
high-impact billboards and one of China's largest networks of
in-elevator advertisement panels in 50 cities throughout China.
Additionally, SearchMedia operates a network of large-format light
boxes in concourses of eleven major subway lines in Shanghai.
SearchMedia's core outdoor billboard and in-elevator platforms are
complemented by its subway advertising platform, which together
enable it to provide a multi-platform, "one-stop shop" services for
its local, national and international advertising clients.
Forward-Looking Statements Any statements
contained in this press release that do not describe historical
facts, including statements about SearchMedia's beliefs and
expectations, may constitute forward-looking statements as that
term is defined by the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expect," "anticipate,"
"future," "intend," "plan," "believe," "estimate," "confident" and
similar statements. Any forward-looking statements contained herein
are based on current expectations, but are subject to a number of
risks and uncertainties that may cause actual results to differ
materially from expectations. A number of important factors could
cause actual results to differ materially from those contained in
any forward-looking statement. Potential risks and uncertainties
include, but are not limited to, the Company's success in pursuing
its business and acquisition strategies and other risks outlined in
the Company's filings with the U.S. Securities and Exchange
Commission. SearchMedia cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. SearchMedia does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement to reflect any change in
the Company's expectations or any change in events, conditions or
circumstances on which any such statement is based.
For more information, please contact: ICR, Inc. In New York:
Ashley De Simone: (646) 277-1227 In Beijing: Wen Lei Zheng: 86 10
6583-7510
Airmedia Grp. ADS, Each Representing Two Ordinary Shares (MM) (NASDAQ:AMCN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Airmedia Grp. ADS, Each Representing Two Ordinary Shares (MM) (NASDAQ:AMCN)
Historical Stock Chart
From Jul 2023 to Jul 2024