– Quote from the Public Announcement made by Bigo IP –
Sep 30, 2022
This is an announcement made by Bingo Group Holdings Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) on a voluntary basis to keep the shareholders and potential investors of the Company informed of the latest business development of the Group.
As disclosed in the recent financial reports of the Company, the Company has been exploring business opportunities leveraging on its movie production, licensing and derivatives, crossover marketing and provision of interactive contents business experience and knowledge in the past years. The board (the ‘‘Board’’) of directors (‘‘Directors’’) of the Company and its management have been spending continuous effort in exploring such opportunities, and is seeking to explore such opportunities in relation to ‘‘IP Accelerator’’, which involve the concept of providing project management and consultancy services to assist various IP owners to promote their IPs and develop the same into various products, events, digital contents, etc. To this end, on 27 September 2022, Bingo Intellectual Property Management Limited (the ‘‘Bingo IP’’), a wholly owned subsidiary of the Company, has entered into a letter of appointment (the ‘‘Appointment’’) with Data Hash Technology Limited (‘‘Data Hash’’) to appoint Data Hash as a project manager for an initial term of 2 years, to develop relevant detailed business plan, including but not limited to operational plan, sales and marketing strategy, financial forecast for the forthcoming year, and setting key performance targets to the satisfaction of the Group. In return for its service, Data Hash will be entitled to a monthly service fee and sharing of net earnings before taxes of the Company from future negotiated or executed projects of the Company.
By order of the Board
Bingo Group Holdings Limited
LAU Man Kit
Executive Director
Click Here for the Original Announcement